GODI India Private Ltd will set up Lithium and Sodium Ion and related technologies R&D and Giga scale cell manufacturing facility in Telangana with an investment of Rs 8,000 crore, it was announced on Wednesday.
An MoU to this effect was signed between the Telangana government and GODI India on Wednesday on the sidelines of the World Economic Forum conference in Davos as GODI founder and CEO Mahesh Godi called on Chief Minister A. Revanth Reddy.
The proposed project has employment generation potential of 6,000 in the first phase spread over five years.
The project aims to have a 2.5 Gwh cell assembly line in the first phase with planned expansion to 10 Gwh in the second phase.
Set up in 2020, GODI has emerged as a key player in the energy storage domain. In a short duration, GODI achieved milestones such as developing Li-ion pouch and cylindrical prototype cells in its Li-ion pilot production line.
GODI has future innovations in the pipeline, including sodium-ion and solid-state battery technologies, and establishing a cutting-edge cell manufacturing facility, catering to sectors such as defense and aerospace, solar and wind, telecommunications, electric vehicles, and electronics.
Revanth Reddy welcomed the investment and said that the new government of Telangana is working towards promoting the adoption of electric vehicles and establishing a comprehensive EV & ESS ecosystem in the state.
He further added that the proposed project is aligned with the state’s vision of promoting adoption of electric vehicles and GODI will be a key player in Telangana’s ESS ecosystem.
Godi thanked the Telangana government for their support and cooperation and said that he is confident GODI will play a key role in enabling and creating an ecosystem of EV & Energy Storage companies in Telangana.
“There is a groundswell of positivity and confidence in the business propensity and growth of Telangana after a Congress government under leadership of CM Revanth Reddy took charge,” an official release quoted him as saying.