The initial capacity of the gigafactory will be 7 GWh, with an investment of over ₹450 crore. The operations are scheduled to start by October 2024. The investment will cover the cost of the manufacturing plant, machinery, and infrastructure, and is expected to be completed by 2026.
This gigafactory is expected to play a significant role in reducing carbon emissions by over 5 million tons annually and will support India's burgeoning electric vehicle (EV) ecosystem. It will also create job opportunities for over 100 small and medium-sized enterprises (SMEs) as vendors and suppliers.
Furthermore, GoodEnough Energy aims to expand the Gigafactory's capacity to 20 GWh by 2026, which could potentially reduce CO2 emissions by a projected 15 million tonnes. This initiative is part of India's goal to reach 500 GW of renewable energy capacity and to support industries with high CO2 emissions in achieving their sustainability Targets.
Earlier in January 2019, LIBCOIN Consortium in collaboration with Magnis Energy Technologies Limited and BHEL, have finalized a deal to build India's first Lithium-ion Battery Gigafactory. The starting capacity will be 1 GWh, with an eventual increase to 30 GWh.
In July last year, Elon Musk promoted Tesla resumed talks with the Indian government to build a gigafactory with an annual capacity of 500,000 electric cars.
These developments are part of India's push towards clean energy and electric vehicle adoption. India plans to set up 12 giga factories by 2030 to manufacture lithium-ion batteries to support electric vehicle (EVs) as well as renewable energy generation.
A gigafactory is a large-scale manufacturing facility that specializes in producing batteries and other components for electric vehicles (EVs) and renewable energy applications. The term "giga" refers to "billion," indicating the massive production capacity of these factories, often in terms of gigawatt-hours (GWh) of battery storage. Gigafactories aim to achieve economies of scale, reduce costs, and increase production efficiency, which is crucial for the transition to clean energy technologies.
The concept of 'Gigafactory' was popularized by Tesla, Inc., which built its first Gigafactory in Nevada to produce battery cells in collaboration with Panasonic. This approach allows for the integration of battery production with vehicle assembly, streamlining the supply chain and reducing exposure to supply chain disruptions. Other companies have since adopted the term for their own large-scale battery production facilities.
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