US-based C4V, a leading company in the lithium-ion cell manufacturing sector, will be investing over Rs 4,000 crore in the electric battery manufacturing sector in Karnataka, Industries Minister Jagadish Shettar said.
A lithium-ion battery or Li-ion battery is a type of rechargeable battery commonly used for portable electronics and electric vehicles.
An agreement with representatives of the world’s leading Li-Ion cell manufacturing company was signed in Bengaluru.
Shettar said that C4V is a leading company with over a hundred patents and lithium battery cell manufacturing and technology.
“The company’s investment of Rs 4,015 crore in the state will create more than 4,000 jobs,” he said.
The company will set up a 5 Gigawatt hours (GWh ) plant in the state and will begin work next year.