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Mahanagar Gas Partners with IBC for Battery Manufacturing

Last Update 08 November 2024

Mahanagar Gas (MGL) has partnered with the International Battery Company (IBC) to form a joint venture for manufacturing, marketing, and distributing battery cells in India. MGL will invest up to Rs 385 crore for a 40% stake. The Joint Venture will set up a gigafactory in Bangalore to produce prismatic NMC Li-ion cells, meeting local demand and boosting sector competitiveness.

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