SRAM &AM, Tesla Group to Build EV Battery Plants Globally

According to a corporate spokesperson, SRAM &AM Group, a global leader in sustainable development and technology, and Tesla Group a. s., a manufacturer of battery energy storage systems, have signed a $1 billion deal to establish electric vehicle battery facilities in India and other nations.

The agreement focuses , five EV battery factories, also referred to as gigafactories, will be constructed in India along with 15 additional countries, such as the US, Malaysia, Oman, Brazil, the UAE, and Cambodia, stated Sailesh L Hiranandani, Chairman of SRAM &AM Group in a statement."The collaboration will create one of the largest battery manufacturing and storage supply chains for electric vehicles (EVs) globally," he added.

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TESLA Group a.s. will supervise the design, engineering, and building of these state-of-the-art facilities to ensure flawless execution, while SRAM &AM Group will lead efforts to acquire single-window approvals, grants, subsidies, tax advantages, and local collaborations.

"By combining our advanced BESS technology with SRAM's global expertise, we are not only building factories but also fostering vibrant communities that will drive the future of sustainable energy," Nanda K Bhagi, President of TESLA Group a.s.Each of the giga factories will be about 500 acres, and will house entire battery manufacturing and storage supply chains, Hiranandani said.