IFC’s $50 Million Bet on GFCL EV: How India’s First Integrated Battery Materials Plant Could Rewire the EV Supply Chain
The International Finance Corporation will invest about $50 million in GFCL EV Products Limited to build India’s first fully integrated battery-materials plant at Jolva, Gujarat. The facility will manufacture lithium-ion battery ingredients, including LiPF₆ electrolyte salt and LFP cathode materials. IFC’s funding will be through compulsorily convertible instruments, giving it a future equity stake. The deal was announced December 5–6 via official filings and media.
