IFC’s $50 Million Bet on Gujarat Fluorochemicals to Build India’s First Integrated Battery Materials Plant
The International Finance Corporation will invest about US$50 million in GFCL EV Products Ltd to build India’s first fully integrated battery materials plant at Jolva, Gujarat. GFCL EV has commissioned its LFP cathode materials facility and plans to begin commercial sales of lithium hexafluorophosphate soon. The project aims to localize the lithium-ion battery value chain and reduce reliance on imported materials.
