Himadri to set up lithium-ion facility

Himadri Speciality Chemical said on Wednesday it would set up a facility to make lithium-ion battery components for an estimated project cost of ₹48 billion ($576.12 million).

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Shares of the company jumped nearly 6% to a record high of ₹307.

Lithium-ion batteries, which power electric vehicles (EV) and used to store energy, are expected to play a key role in India's goal to be a net zero emitter of greenhouse gases by 2070.