Tesla and CATL Interested in India Gigafactories for Batteries

Tesla and China’s Contemporary Amperex Technology Co. Ltd (CATL) and other companies that have shown an initial interest in the Indian government’s plan to build large battery factories at an investment of about ₹50,000 crore (US$7 billion).

India’s plan to set up 50-gigawatt hour (GWh) factories. The final tender expected to be awarded by February, 2020. Each gigawatt-hour (1,000 megawatt hours) of battery capacity can power 1 million homes for an hour and around 30,000 electric cars.

Only 18 out of 1,000 Indians own a car, compared with nearly 800 in the United States and around 500 in the European Union. India passed Germany to become the fourth-largest car market in the world in 2018. McKinsey forecasts that India will overtake Japan for the third spot in 2021. In 2018, India’s passenger car sales rose by 5 percent, to 3.4 million vehicles.

SOURCES- Livemint, Twitter
Written By Brian Wang, Nextbigfuture.com