GFCL EV Products Ltd (GFCL EV) has announced that it has started commercial production of LiPF6 (lithium hexafluorophosphate), an important raw material for the production of lithium-ion batteries.
In a release, GFCL EV – a wholly-owned subsidiary of Gujarat Fluorochemicals Ltd – said that the LiPF6 project has achieved commercial production and validation process prior to commercial sale has commenced. The plant is anticipated to be operational by Q3 of CY24.
LiPF6 caters to 30 per cent of a lithium-ion battery value, the release said, adding that GFCL EV is now one of the few companies globally to provide a comprehensive range of products for EV batteries under one roof. GFCL EV’s current product portfolio includes electrolyte salts LiPF6, additives, electrolyte formulations, cathode active materials such as LFP and cathode binders such as PVDF and PTFE, along with specialized offerings of NaPF6 for sodium ion batteries.
Major investment announced
GFCL EV has also announced investment of Rs.6,000 crore over the next 4-5 years. Of this, around Rs.650 crore has already been invested up to end-December 2023. This investment will enable supply of raw materials to 200 GWh per year worth of electric vehicle batteries and battery energy storage systems.
This investment will not only help addresses challenges such as the high cost of EV batteries but will also mitigate import dependence on key battery raw materials.
Entering high-demand regions
GFCL EV plans to enter high-demand regions of the US, Europe, and India. Fuelled by the IRA Act, “China plus One” strategy and Production-Linked Incentive (PLI) scheme respectively, these markets form the cornerstone of GFL’s growth strategy and align seamlessly with the company’s vision for sustainable and innovative solutions. The company has already initiated long term tie-ups with renowned global customers, underscoring the confidence in its capabilities and offerings, the release said.
Innovation in energy transition
Speaking on the occasion Vivek Jain, Chairman, INOXGFL Group, said, “GFL’s visionary investment and unwavering commitment to innovation highlight our pivotal role in shaping the future of the EV and ESS battery industry. The significant investment in the EV/ESS battery chemicals supply chain underscores our dedication to driving innovation in the electric mobility sector and energy transition.
Global opportunity
The global opportunity for the EV battery chain is estimated to reach $300 billion by 2030. In India, with annual EV sales are projected to reach 10 million by 2030, the release noted.
Featured photograph (source: Siemens) is for representation only.
