Battery energy storage systems maker Tesla Group a.s. and SRAM & MRAM Group, a global leader in technology and sustainable development, have signed a USD 1 billion agreement to establish electric vehicle battery facilities in India and other countries, according to a company official.
Under the agreement, a total of five EV battery factories, also known as gigafactories, will be set up in India and 15 other countries, including the US, Malaysia, Oman, Brazil, the UAE, and Cambodia, said Sailesh L Hiranandani, Chairman of SRAM & MRAM Group. He added, “The collaboration will create one of the largest battery manufacturing and storage supply chains for electric vehicles globally.”
SRAM & MRAM Group will lead efforts to secure single-window approvals, grants, subsidies, tax incentives, and local partnerships. Tesla Group a.s. will oversee the design, engineering, and construction of these state-of-the-art facilities to ensure smooth execution.
“By combining our advanced BESS technology with SRAM’s global expertise, we are not only building factories but also fostering vibrant communities that will drive the future of sustainable energy,” said Nanda K Bhagi, President of Tesla Group a.s.
Each gigafactory will span around 500 acres and house comprehensive battery manufacturing and storage supply chains, Hiranandani added. The Tesla and SRAM & MRAM partnership is expected to significantly bolster the global EV battery ecosystem while supporting sustainable energy initiatives.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter |The Mainstream formerly known as CIO News Whatsapp Channel | The Mainstream formerly known as CIO News Instagram
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
