Setting up five gigafactories in India and 15 abroad, Tesla Group and SRAM & MRAM expand EV battery capacity.
Battery energy storage systems manufacturer Tesla Group a.s. and global investment and technology firm SRAM & MRAM Group have signed a $1 billion agreement to establish electric vehicle battery facilities in India and other countries.
The companies announced plans to set up five gigafactories in India and an additional 15 facilities worldwide, including in the United States, Malaysia, Oman, Brazil, the United Arab Emirates, and Cambodia.
According to a statement from SRAM & MRAM chairman Sailesh L Hiranandani, the group will take responsibility for securing single-window approvals, subsidies, tax incentives, and local partnerships. Tesla Group a.s. will lead the design, engineering, and construction of the projects.
The initiative is aimed at strengthening global capacity for battery energy storage systems (BESS) and supporting the transition to electric mobility and renewable energy integration. Company officials said the facilities are intended to provide both domestic and export markets with high-capacity EV batteries.
Nanda K Bhagi, president of Tesla Group a.s., said the collaboration would combine advanced BESS technology with SRAM & MRAM’s global reach. “We are not only building factories but also fostering communities that will drive the future of sustainable energy,” he said in a statement.
The agreement comes as India seeks to expand its domestic EV supply chain and reduce reliance on imported battery technology, with government incentives encouraging large-scale investment in energy storage infrastructure.
