Epsilon Group has announced a massive investment of ₹15,350 crore to set up a manufacturing and research facility in Karnataka for electric vehicle (EV) battery materials and testing. The company formalized this commitment by signing a Memorandum of Understanding (MoU) with the Karnataka government during the Invest Karnataka Summit held in Bengaluru.
The investment, spread over the next 10 years, is expected to strengthen India’s EV ecosystem, create thousands of jobs, and position the country as a global leader in advanced battery materials and technology. Under the MoU, Epsilon Group and its subsidiaries—Epsilon Advanced Materials and Epsilon CAM Pvt Ltd—will focus on producing Graphite Anode and Lithium Iron Phosphate (LFP) Cathode materials. Meanwhile, Inspire Energy Research Center Pvt Ltd will lead research, testing, and training initiatives in battery technology.
The investment breakdown includes ₹9,000 crore for a Graphite Anode manufacturing facility, ₹6,000 crore for an LFP Cathode plant, and ₹350 crore for an R&D and training center dedicated to battery materials and testing. Epsilon Group aims to provide Indian battery manufacturers with high-performance, locally-produced materials, reducing reliance on imports and enhancing supply chain resilience.
Vikram Handa, Managing Director of Epsilon Group, said, “This investment is a significant step toward making India self-reliant in advanced battery materials, accelerating the clean energy transition, and boosting the country’s EV industry. Beyond manufacturing, we are committed to creating jobs, advancing technology, and promoting sustainable industrial growth in Karnataka.”
The initiative aligns with India’s Atmanirbhar Bharat (Self-Reliant India) and Viksit Bharat (Developed India) visions, aiming to enhance energy security and reduce dependence on Chinese imports. Epsilon Group plans to achieve 100% Domestic Value Addition (DVA) for anode materials and 60% DVA for cathode materials, significantly boosting local value creation and supply chain localization.
By establishing cutting-edge battery material plants and an advanced R&D center, Epsilon Group aims to position India as a key player in the global EV battery supply chain. This move will ensure a sustainable and secure source of critical materials for both domestic and international markets, further solidifying India’s role in the clean energy transition.
