GODI India invests ₹8,000 crore in a 12.5 GWh cell manufacturing unit in Telangana, aligning with the state’s EV promotion vision
HyderabadGODI India Private Limited will be setting up up of a 12.5 GWh cell manufacturing unit in Telangana with an investment outlay of ₹8000 crore.
The investment plan was announced by Telangana Chief Minister A Revanth Reddy along with Mahesh Godi, Founder & CEO, GODI India Private Limited, at the on-going annual meeting of the World Economic Forum in Davos.
The investment will be for setting up of a Lithium and Sodium Ion and related technologies R&D and Giga scale cell manufacturing facility in Telangana, over a period of five years.
A Memorandum of Understanding was signed between the Government of Telangana and GODI India on January 17at the World Economic Forum in Davos.
While welcoming the investment, Revanth Reddy said that the new Government of Telangana was working towards promoting the adoption of electric vehicles and establishing a comprehensive EV and ESS ecosystem in the State.
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, he added.
Mahesh GODI, thanked Government of Telangana for their support and cooperation and said GODI will play a key role in enabling and creating an ecosystem of EV & Energy Storage companies in Telangana.
The proposed project has employment generation potential of 6,000 in Phase 1. It aims to have a 2.5 Gwh cell assembly line in the first phase with planned expansion to ten Gwh in the second phase.