IFC’s $50 Million Bet on GFCL EV: How India’s First Integrated Battery Materials Plant Could Rewire the EV Supply Chain
New Delhi/Ahmedabad, December 6, 2025 — The International Finance Corporation (IFC), the World Bank Group’s private-sector arm, has committed around US$50 million to GFCL EV Products Limited, a subsidiary of Gujarat Fluorochemicals Limited (GFL), to build India’s first fully integrated battery‑materials manufacturing facility at Jolva, near Bharuch in Gujarat.The Times of India+2EQ Mag Pro+2 The greenfield plant will produce a suite of critical lithium‑ion battery ingredients—from lithium hexafluorophosphate (LiPF₆) electrolyte salt and formulated electrolytes to lithium iron phosphate (LFP) cathode materials and PVDF/PTFE binders—under one roof, directly serving India’s fast‑growing electric vehicle (EV) and energy‑storage markets.The Times of India+2ETAuto.com+2 The