Reportedly, Tesla Group a.s. and SRAM & MRAM Group have signed a USD1 billion agreement to set up five battery energy storage system (BESS) gigafactories in India, alongside 15 others globally.
The partnership aims to build one of the largest electric vehicle battery manufacturing and storage supply chains worldwide. SRAM & MRAM will facilitate single-window clearances, incentives, and local tie-ups, while Tesla Group a.s. will lead design and construction. Each facility is expected to span 500 acres and support EV and energy storage manufacturing infrastructure.