Lithium Ion battery unit to come up in AP

Vijayawada: The Andhra Pradesh Economic Development Board (APEDB) signed a Memorandum of Understanding (MoU) with USA-based Tecchren Batteries to manufacture advanced Lithium Ferro Phosphate (LiFePO4) batteries in the state.

This MoU was signed by CEO of APEDB J Krishna Kishore and EPA Ulanday, Executive chairman of Tecchren, in the presence of Chief Secretary Anil Chandra Punetha. The proposed investment is approximately Rs 446 crore with a capacity of 7 lakh units per year and would generate employment to over 200 including direct 130 and indirect 70.

J. Krishna Kishore said, “This MoU is a step in the right direction as electronics is a priority sector for the government of Andhra Pradesh and India grows to be one of the largest electronics manufacturing hubs.”

Andhra Pradesh is going to be the Lithium Ion manufacturing hub of the country, he said.  The state shall elevate partnership with Australia, China, and Argentina to have a consistent supply of lithium for its manufacturing partners.