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Hindalco to set up ₹800 cr EV battery foil unit in Odisha
Mint Mumbai
|December 13, 2023
The new plant, to be set up near Sambalpur in Odisha, will be commissioned by 2025
To tap the rapidly growing market for electric vehicles (EVs) and energy-storage systems, Hindalco Industries, the aluminium flagship of the Aditya Birla Group, announced an investment of ₹800 crore on Tuesday to set up a new plant to manufacture fine-quality aluminium foil used in rechargeable batteries.
The new plant, to be set up near Sambalpur in Odisha, will be commissioned by 2025. The investment will be funded through internal accruals, the aluminium rolling and recycling company said in a stock filing on Tuesday. The plant will initially produce 25,000 tonnes of the product.
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