Allox Advance Materials Pvt Ltd signed an MoU with Government of Telangana for setting up of a C- LFP (Lithium Iron Phosphate) active battery material production unit in Telangana, on the side lines of World Economic Forum 2023 in Davos.
The State-of-the-art facility for manufacturing Lithium Iron Phosphate (C-LFP), involves an investment of INR 210 Crores with an initial capacity of 3GWH/PA to be expanded to a capacity of 10GWH with a total investment outlay of INR 750 crores by 2030. The proposed facility will create employment for 600 highly skilled and semi-skilled professionals.
Minister KT Rama Rao welcomed Allox and stated “Government of Telangana is actively working on promoting adoption of EVs and towards developing a comprehensive manufacturing ecosystem. The State is emerging as the most preferred destination for EV and Advanced Chemistry Cell Manufacturing. The proposed facility by Allox is expected to contribute to the State’s goal of promoting the adoption of electric vehicles.”
Government of Telangana was one of the first States to come up with a comprehensive EV & ESS Policy in 2020 with a view to build an integrated EV ecosystem.
Allox Co Founder and MD, Mourya Sunkavalli and COO, Kiriti Varma thanked Government of Telangana for their support in making this project a reality and said, “Allox will play an important role in the EV and emerging Energy Storage Systems landscape of the country, while supplying active cathode materials to the cell manufacturing companies in India, thus enabling and creating an ecosystem of ACC companies around Telangana.”
Allox’s technology to produce Carbon Coated Lithium Iron Phosphate (C-LFP) is a solid-state process, economical to scale up, zero affluent discharge, eco-friendly and indigenously developed by ARCI, Government of India and upscaled by ALLOX in Hyderabad. Allox has been showcased by Government of India at the Indian Sustainability Pavilion at World Economic Forum 2023 in Davos.
Principal Secretary (Industries and Commerce and IT E&C) Jayesh Ranjan IAS, Special Secretary (Investment Promotion) Vishnu Vardhan Reddy IFS and Gopalakrishnan VC, Director Automotive and EV Sector were also present at the MOU signing event.