Home / Business and Economy / Waaree Secures ₹1,003 Cr for India's Battery Plant
Waaree Secures ₹1,003 Cr for India's Battery Plant
5 Jan
Summary
- Waaree secured ₹1,003 crore for a new lithium-ion facility.
- The plant will have a 20 GWh production capacity.
- Investment aims to reduce India's battery import dependence.
Waaree Energy Storage Solutions has secured approximately ₹1,003 crore in funding from diverse investors. This capital will be used to establish a state-of-the-art lithium-ion cell and battery pack manufacturing facility in India.
The new plant is designed for a substantial 20 GWh production capacity. It is poised to significantly enhance India's domestic energy storage manufacturing capabilities, thereby reducing the nation's dependence on imported battery technology.
This initiative aligns with India's strategic goals for clean energy and self-sufficiency in critical technologies. The facility will integrate with Waaree Group's existing solar module and inverter manufacturing, solidifying its role as a comprehensive renewable energy solutions provider.
