Schedule a Call Back
EAM to invest $650 mn to establish EV battery components facility in USA
Industry News- Jun 26,23
Epsilon Advanced Materials (EAM), India’s leading battery materials company is looking to power 1 million electric vehicles through its proposed facility in USA. The company commits largest Indian investment in USA’s EV battery industry.
Epsilon Advanced Materials (EAM), is planning to invest $650 million in the USA. The company will establish 50,000 TPA synthetic graphite anode manufacturing facility in the USA to supply high-capacity anode materials produced through green technologies. The proposed facility in USA will provide critical battery materials to power more than one million electric vehicles. Currently, this synthetic graphite anode processing facility is the largest Indian investment in the US electric vehicle battery industry. This investment is directed towards building a strong US-India trade relationship and contribute towards creating cleaner and sustainable energy alternatives. The joint statement by President of USA, Joe Biden and India’s Prime Minister, Narendra Modi acknowledged Epsilon Advanced Materials investment in USA.
EAM is currently evaluating multiple locations across the US for the proposed facility subject to regulatory approvals, environmental permits and state and local incentive agreements. It has already signed strategic supply agreements with local raw material suppliers and transport partners to create a seamless supply chain network with focus on minimising carbon emissions and reducing transportation costs. Through this facility, EAM will produce high-capacity synthetic anode materials, customised for specific cell chemistries. It is expected to generate revenue of more than $500 million at full capacity by 2031. EAM will generate more than 1500 direct and indirect employment opportunities at this facility. The facility is expected to be commissioned by 2026.
Vikram Handa, Founder and Managing Director of Epsilon Advanced Materials, said, “Our investment in the USA is driven by the intent of energising the world with clean energy solutions. The battery value chain is a critical enabler to electric mobility adoption, and we are channelising our efforts to localise the battery manufacturing ecosystem. This will help automakers leverage the EV subsidies under the US Inflation Reduction Act and pass on the benefits to the end-user. I’m excited that we are bringing in the India patented anode manufacturing technology to the US and leveraging it to contribute to the vision that the US has for the EV battery ecosystem.”
The US government has set up an ambitious goal for electric vehicles (EV) with the vision to convert 50 per cent of vehicle sales to be electric by 2030 and generate 1000 GWh of battery capacity. With this facility, EAM will contribute to US EV roadmap by ensuring local supply chain for EV batteries. The facility will contribute to the US government’s mandate of critical mineral security.
With the rapid growth of the electric vehicle (EV) market and the increasing demand for renewable energy sources, the requirement for critical minerals such as graphite has increased in recent years. Graphite shortages are expected to rise in coming years, with a global supply deficit of 7,77,000 tons expected by 2030. As per Benchmark Mineral Intelligence Report, about $12 billion of investment is needed by 2030 in graphite by 2035 to meet the growing demand.
The US Inflation Reduction Act (IRA) presented a significant opportunity for India's booming chemical industry to convert minerals into battery materials and reduce dependence on China. As the US mandates that sourcing critical battery materials from China will not qualify for the $7500 credit per EV, US automakers were seeking alternative countries to acquire these critical battery materials. Seizing the opportunity, EAM with this investment, intends to support energy transitions in the US and India, as strong trade partners.
Epsilon Advanced Materials (EAM)
USA
Electric Vehicles
EV battery
Narendra Modi
Prime Minister
Joe Biden
President
Vikram Handa
Inflation Reduction Act (IRA)
China
Related Stories
Electrical & Electronics
Manufacturers are adding all features in one instrument: Chandmal Goliya
The Indian manufacturing sector is going through a very important phase because there is good demand for products made in India.
Read moreAuto & Auto Components
EV batteries shaping the future: Ankit Sharma
The EV revolution is being fueled by rapid advancements in battery technology, from lithium-ion innovations to emerging chemistries like solid-state and LMFP.
Read moreMachine Tools & Accessories
Surface Modification Technologies aims for global expansion: Dr Umesh Mhatre
In this interview, Dr Umesh Mhatre, MD, Surface Modification Technologies Pvt Ltd, highlights his company’s contribution to the growth of manufacturing sector and plans for IMTEX 2025 exhibition.
Read moreRelated Products
Forklift Battery
BATTERIES, UPS SYSTEMS & VOLTAGE STABILISERS
Aatous International is a manufacturer and solution provider of a wide range of forklift battery.
Wrist Type High Voltage Alarm
BATTERIES, UPS SYSTEMS & VOLTAGE STABILISERS
‘KUSAM-MECO’ has introduced a new wrist Type High Voltage Alarm Detector - Model KM-HVW-289 having a wide sensing range from 1kV-220 kV AC.
Servotech Power Systems files 2 patents for energy management technologies
BATTERIES, UPS SYSTEMS & VOLTAGE STABILISERS
Servotech Power Systems, a leading manufacturer of EV chargers and solar solutions, has announced that it has filed two patents for innovative energy management technologies in order to facilitate gri Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
