Epsilon Group has announced plans to invest Rs 15,350 crore in Karnataka to develop an advanced EV battery technology facility. The company formalized this commitment by signing an MoU with the Government of Karnataka at the Invest Karnataka Summit in Bengaluru.
The investment will be allocated across key areas, including Rs 9,000 crore for a Graphite Anode manufacturing plant, Rs 6,000 crore for an LFP Cathode plant, and Rs 350 crore for an advanced R&D and training centre specializing in battery materials and testing.
Epsilon Advanced Materials and Epsilon CAM Pvt Ltd will spearhead the production of high-performance battery materials, while Inspire Energy Research Center Pvt Ltd will focus on research, testing, and training for battery manufacturers. This initiative is expected to create thousands of jobs over the next decade, reduce import dependency, and establish India as a global leader in EV battery technology.
