The International Finance Corporation (IFC) has invested US$ 50 million in GFCL EV to support India’s first integrated battery materials manufacturing facility in Gujarat. 

The project aims to build end-to-end capacity for critical EV components, reducing import dependence in the fast-growing clean mobility sector. 

This investment enhances India’s strategic position in the global battery supply chain, which is becoming increasingly competitive. 

The move also complements national goals to strengthen domestic EV ecosystems. 

The plant will enable the production of key materials such as cathodes and precursors, which are currently imported at high cost. 

This investment also positions Gujarat as a central hub for advanced battery manufacturing.