Current Affairs - State - Discussion

ChemVolt Global signed a memorandum of understanding with Andhra Pradesh to establish a 5 GWh lithium-ion cell gigafactory with an investment of ₹2,500 crore. The project aims to strengthen India’s domestic lithium-ion cell manufacturing ecosystem, supporting both grid-scale energy storage and electric mobility applications. The facility will manufacture advanced prismatic cells and generate significant employment, including around 1,500 direct jobs and over 4,000 indirect jobs. The project will be developed in phases, with Phase I targeting 1 GWh capacity by Q3 2027 and full 5 GWh capacity by Q2 2029.