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GFCL EV Products to invest Rs 6,000 cr in EV battery supply chain

Thursday, 08 Feb 2024
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GFCL EV Products (GFCL EV), a 100 percent subsidiary of Gujarat Fluorochemicals (GFL) has announced an investment of Rs 6,000 crore which will be spread over the next four to five years for ramping up production capacity. A part of this investment is expected to be made at Dahej in Gujarat.

This investment will enable supply of approx. GWh annually of electric vehicle (EV) and energy storage system (ESS) battery solutions, and would empower the company to cater to the demand from the US, Europe and India. Of the proposed investment, Rs 650 crore has been invested till 31 December, 2023. Driving innovation in the electric mobility sector, this strategic move also addresses challenges such as the high cost of EV batteries, and also mitigates the import dependence on key battery raw materials. The company will leverage the global opportunity for EV battery chain, which is estimated to reach USD 300 billion by 2030. 

Further, the company's commercial plant for the LiPF6 project has achieved commercial production and a validation process prior to sale has also commenced. Also, the LFP project is likely to be operational by Q3/ CY24, which would cater to 30 percent of Lithium-ion battery (LiB) value. Thus, the company will be able to provide a comprehensive range of products for EV batteries under one roof.

GFCL EV’s current product portfolio includes electrolyte salts LiPF6, additives, electrolyte formulations, cathode active materials such as LFP and cathode binders such as PVDF and PTFE, along with specialised offerings of NaPF6 for sodium ion batteries.

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