The Telangana government has inked a Rs 8,000 crore deal with GODI India Private Limited to set up a 12.5 GWh cell manufacturing facility in the state.
Chief Minister A Revanth Reddy signed a Memorandum of Understanding with Mahesh Godi, the founder and CEO of GODI India Private Limited, at the World Economic Forum in Davos.
The investment is for setting up a Lithium and Sodium Ion and related technologies research and development facilities in Telangana over a period of five years, an official release stated.
The release stated that the project would generate around 6,000 jobs in the first phase.
“The project aims to have a 2.5 Gwh cell assembly line in Phase 1, with planned expansion to 10 Gwh in the second phase,” the release said.
The Chief Minister said that the proposed project is aligned with Telangana’s vision of promoting the adoption of electric vehicles and GODI would be a key player in the state’s ESS ecosystem.
Mahesh Godi thanked the Telangana government for its support 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.
Earlier in the day, Revanth Reddy met Adani Group Chairman Gautam Adani in Davos and they inked four agreements for investment of over Rs 12,400 crore ($1.49 billion) in the state.