A 100% subsidiary of Gujarat Fluorochemicals Ltd (GFL), GFCL EV Products Ltd (GFCL EV) announced on Wednesday that it will invest ₹6,000 crore over the next four to five years. This investment is anticipated to be made in part in Dahej, South Gujarat. This investment will make it possible to deliver energy storage system (ESS) and electric vehicle (EV) battery solutions for about 200 GWh per year.
What are GFCL officials saying?
As to the official statement, ₹650 crore of the planned ₹6,000-crore investment has been invested as of December 31, 2023. “GFL’s visionary investment and unwavering commitment to innovation highlight our pivotal role in shaping the future of the EV and ESS battery industry,” stated Vivek Jain, Chairman of INOXGFL Group.
He added, “Our commitment to promoting innovation in the field of electric mobility and the energy transition is demonstrated by the considerable investment we have made in the EV/ESS battery chemistry supply chain. As leaders, we want to do more than just be well-known in the market. We want to be at the forefront of creating a future that is cleaner and more ecologically friendly, which aligns with our values as a green group that is growing in the renewable energy industry.
Electrolyte salts LiPF6, additives, electrolyte formulations, cathode active materials (like LFP) and cathode binders (like PVDF and PTFE) are all part of GFCL EV’s current product portfolio. Additionally, GFCL EV offers specialized NaPF6 for sodium-ion batteries.
Regarding the project, commercial production has been reached by GFCL EV’s plant for the LiPF6 project, and the process of validating the plant before it is sold has started. Furthermore, it is anticipated that the LFP project will be operational by Q3 of CY24, accounting for thirty percent of the value of lithium-ion batteries (LiBs). This makes it one of the few enterprises in the world offering a wide range of goods for EV batteries under one roof.
According to the release, this calculated action not only addresses issues like the high price of EV batteries but also lessens India’s reliance on imports for essential battery raw materials, putting GFL at the vanguard of the country’s energy transformation and revolution in electric mobility.
