BHEL, Libcoin consortium to build Lithium-Ion gigafactory
Bharat Heavy Power Co. , Ltd. (BHEL), owned by one of India\'s largest manufacturers of power generation equipment, is negotiating with the LIBCOIN consortium to build the first lithium of the Indian government-
As part of Prime Minister Narendra Modi\'s \"Made in India, made in India\" program.
LIBCOIN is a consortium of Magnis Energy, Duggal family trust fund and charging CCCV (cv4) and plans to build large lithium-
Ion batteries worldwide.
Commenting on the development, Rajan Duggal, chairman of LIBCOIN, said, \"Our plan is to become the largest lithium --
Indian ion battery manufacturers, we aim to be a pioneer in one of the world\'s largest markets.
The interest generated by this project, especially in the Indian automotive industry, is very exciting.
\"The development of the Gigabit plant will initially start with the construction of 1 GW of lithium --
Magnis Energy said the ion battery plant will be expanded to 30 GWh in due course.
Frank Poullas, chairman of Magnis, said, \"it is very encouraging for Magnis and its partners to have the central government of India approve the project.
\"We think India is one of the largest lithium markets in the world --
Lithium-ion battery and has the potential to become one of the largest lithium-ion batteries in the world
Working with partners with BHEL skills and expertise is exciting for the company.