Tesla and SRAM &AM to Invest $1 Billion in EV Battery Gigafactories Across India and Global Markets

Tesla Group, and SRAM &AM Group have signed a landmark $1 billion agreement to set up electric vehicle (EV) battery gigafactories in India and 15 other key global markets including the US, Malaysia, Oman, Brazil, the UAE, and Cambodia.

The five gigafactories, each covering approximately 500 acres, will focus on large-scale battery manufacturing, lithium-ion cell production, and advanced energy storage solutions. The initiative is aimed at expanding the global EV ecosystem, enhancing renewable energy adoption, and supporting decarbonization efforts across transportation sectors.

SRAM &AM Group will lead government liaison activities to secure single-window approvals, tax incentives, grants, and public-private partnerships, while Tesla Group will oversee the design, engineering, and construction of these cutting-edge EV battery facilities.

“This collaboration combines Tesla’s advanced BESS technology with SRAM’s global expertise to create one of the largest EV battery supply chains in the world,” said Sailesh L Hiranandani, Chairman of SRAM &AM Group.

Nanda K Bhagi, President of Tesla Group, emphasized, “These gigafactories will not only produce sustainable energy solutions but also build vibrant communities to drive the future of electric mobility and clean energy.”

This strategic partnership aligns with the global push for electric vehicles, energy storage systems, and renewable power solutions, positioning India as a key hub for EV manufacturing and green technology innovation.