Epsilon Advanced Materials, a wholly owned subsidiary of Epsilon Carbon Pvt Ltd, announced on Thursday that it has signed a memorandum of understanding with the government of Karnataka to invest Rs. battery in the State, over a period of 10 years. . As part of the deal, the company will set up an anode material production plant, it said in a statement.

The facility would employ 75% of the local population to support the economic development of the region, he said, adding that the Karnataka government would help the company obtain the necessary registrations, approvals, permits and incentives. .

The statement said 90% of lithium-ion batteries for electric vehicles use graphite as an anode because it is economical, has a long cycle life and withstands higher operating temperatures.

“Over 90% of graphite anodes are made in China today and Epsilon Advanced Materials aims to support India in this energy transition with this investment in Karnataka,” he added.