S-based C4V, a leading company in the lithium-ion cell manufacturing sector, is willing to invest over Rs 4,000 crore in the state in the electric battery manufacturing sector, Karnataka Medium and Large Industries Minister Jagadish Shettar said.
A lithium-ion battery orLi-ionbattery is a type of rechargeable battery commonly used for portable electronics and electric vehicles.
An agreement with representatives of the world’s leading Li-Ion cell manufacturing company was signed in the city, the Minister said in a statement.
He added that the C4V is a leading company with over a hundred patents and lithium battery cell manufacturing and technology.
The company’s of Rs 4,015 crore in the state will create more than 4,000 jobs, Shettar said.
The company will set up a 5 Gigawatt hours (GWh ) plant in the state and will begin work next year, he explained.