LICO Materials to invest Rs 250 crore, plans new facility in Bengaluru
Battery recycling firm Lico Materials Pvt Ltd announced the inauguration of a battery recycling facility in Bengaluru. The new facility would have 4 GWh per annum in-feed capacity, and as per the firm it will address the challenges of securing a stable supply of critical materials and contribute to India's ambition of achieving 30 percent electric vehicle (EV) adoption by 2030
LICO aims to scale up capacity at the facility to 10 GWh in the next 3-4 years. The firm would invest Rs 250 crore in its downstream hydrometallurgy plant in the next two to three years.
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