The Quad Investors Network (QUIN) on Tuesday announced its collaboration with India’s Epsilon Advanced Materials in connection with the company’s recent decision to build a $650 million battery materials and components plant in North Carolina, according to a report in the Businesswire. The deal will be the first and largest investment ever by an Indian company into the US electric battery industry. It is expected to create 500 jobs in North Carolina.
China dominates the global electric vehicle battery component market, with nearly 98% of production there.
“Epsilon Advanced Materials’ investment is a demonstration of our mission at the Quad Investors Network: to facilitate cross-border investments across the Quad nations,” said Karl Mehta, chairman of the Quad Investors Network.
EAM’s US-made battery components and materials likely qualify for incentives under the Inflation Reduction Act and related United States legislation aimed at building domestic supply chains for EVs and batteries.
Vikram Handa, managing director of Epsilon Advanced Materials, said, “Considering this strategic investment, I would like to express my enthusiasm and gratitude for the unwavering support of the Quad Investors Network. Their collaboration has been instrumental in realising our vision for a robust and sustainable supply chain of critical minerals in the United States of America.”
Epsilon Advanced Materials’ investment is essential for the collective advancement of the electric vehicle (EV) industry, as well as the broader clean energy sector. The new 1.5-million-square-foot North Carolina facility will produce anodes and synthetic graphite, two components vital to the EV battery supply chain. The company expects the plant will reach full capacity by 2031, producing 50,000 standard tons of anode materials, which could supply up to 1.1 million EVs in the United States.
Comments
0 comment