Tecchren Batteries to establish a lithium ion battery manufacturing plant in Andhra Pradesh
The Andhra Pradesh Economic Development Board (APEDB) signed a Memorandum of Understanding (MoU) with Tecchren Batteries
This MoU was signed by Mr. J. Krishna Kishore, Chief Executive Officer, APEDB & Mr. E.P.A. Ulanday, Executive Chairman in the presence of Mr. Anil Chandra Punetha, IAS, Chief Secretary, Government of Andhra Pradesh.
Tecchren Inc., USA is a privately owned company incorporated under the laws of Delaware U.S.A, organized by Asian, North American & European professionals within technology, operations, finance, policy-making, and environmental issues.
Tecchren Inc., U.S.A is incorporated with a vision and mission to Manufacture and Distributed Advanced Lithium Ferro Phosphate (LiFePO4) batteries in India, USA, and Philippines.
Tecchren Inc., USA has incorporated a subsidiary company in India in the name and style of “Tecchren Batteries Private Limited” for the establishment of 200 MWh LiFePO4 Battery Manufacturing in Sri City, Andhra Pradesh.
The proposed investment is approximately INR 446 crores with a capacity of 700,000 units per year and would generate employment to over 200 (Direct 130, Indirect 70).
The proposed investment was facilitated by Andhra Pradesh Economic Development Board, a single point of contact for spearheading sustainable growth through investments, partnerships, and collaborations.
Mr. J. Krishna Kishore, Chief Executive Officer, Andhra Pradesh Economic Development Board 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 pegs to be the Lithium Ion manufacturing hub of the country, the Andhra Pradesh Economic Development Board is contemplating facilitating the setting up on Lithium Ion battery manufacturing park in Andhra Pradesh.
The EV policy of Andhra Pradesh also provides a fillip to Lithium Ion manufacturers.
The state shall elevate the partnership with Australia, China, and Argentina to have a consistent supply of lithium for its manufacturing partners.