Bangalore : US-based C4V, a leading company in the lithium-ion cell manufacturing sector on Thursday announced that an investment of over Rs 4,000 crore in the state in electric battery manufacturing sector, Industries Minister Jagadish Shettar told the media.

A lithium-ion battery or Li-ion battery is a type of rechargeable battery commonly used for portable electronics and electric vehicles
Speaking after an agreement with representatives of the world’s leading Li-Ion cell manufacturing company in Bangalore, Shettar said that C4V is a leading company with over a hundred patents and lithium battery cell manufacturing and technology. The company’s investment of Rs 4015 crore in the state will create more than 4,000 jobs, he said.

The company will set up a 5 Gigawatt hours (GWh ) plant in the state and will begin work next year.

“We have pioneered the future of green with the recent changes in the latest Electronic System Design and Manufacturing Policy (ESDM) policy and the Electric Vehicle Policy in the state. The cell manufacturing sector will play an important role in reducing environmental pollution”, the Minister said.

Mr Shettar said the cooperation required by this sector is already being provided by the state government. “The more a major company invests in the state, the more companies will be able to invest in the state. At this juncture, our government has promised to provide all the kind of cooperation needed for the establishment of industries in the state”, he added

Raj Kumar Khatri, ACS to Government, Department of Industry and Commerce, Mrs. Gunjan Krishna, Commissioner of Industrial Development, Shailesh Uprati, CEO of C4V, Vice President Kuldeep Gupta, Managing Director of Karnataka Udyog Mitra, COO of Invest Karnataka Forum B.K Shivakumar were present on the occasion.