CCCV signs MoU to set up plant in Karnataka, India

CCCV LLC (C4V), a lithium ion battery technology company headquartered in New York, United States, on Friday signed an MoU with the Karnataka Government, represented by Industries Minister Jagadish Shettar, for their Li-Ion Cell manufacturing giga factory, with an investment size of Rs 4,015 crore, reports.

The company plans to set up a 5 GWh plant and provide direct employment to 4,000 people, and is to commence construction of their plant later this year. The company has over 100 patents in 30-plus countries and has already started signing MoUs with firms in India for supply of batteries, like Omega Seiki Mobility, New Delhi.

Company CEO Shailesh Upreti, V-P Kuldeep Gupta and a senior management team of Darryl Wood, Natasha Chernova and Tony Gonzalez were present, along with Karnataka Additional Chief Secretary Rajkumar Khatri, Industries Commissioner Gunjan Krishna and others.

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