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Tata subsidiary likely to invest $1 billion in battery units in first year

BCATL, the Chinese group, is planning a 100GWh plant in Hungary at a cost $83 million per GWh, UK media reported

Tata Group

Dev Chatterjee Mumbai

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Agratas Energy Storage Solutions, a subsidiary of Tata Sons, plans to invest up to $1 billion in the first year to set up two battery giga-factories in the United Kingdom (UK) and Gujarat, industry sources said.

Apart from getting sops from both the governments, Agratas may raise funds from London-based banks and its promoter Tata Sons. The key selling point of the company while raising funds would be guaranteed sales to its anchor customers, Jaguar Land Rover (JLR) and Tata Motors.

Tata Sons, which received a dividend of Rs 33,350 crore from Tata listed entities in 2023, will use the

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First Published: Jul 20 2023 | 8:02 PM IST

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