Tesla Group, a manufacturer of battery energy storage systems, has signed a $1 billion deal with London-based SRAM & MRAM Group, a global leader in technology and sustainable development, to establish EV battery plants in India and several other countries.
In a statement, SRAM & MRAM Group Chairman Sailesh Hiranandani said the project involves building five electric vehicle battery ‘gigafactories’ in India, along with 15 more facilities in countries such as Malaysia, the United States, Oman, the United Arab Emirates (UAE), Cambodia, and Brazil.
“The collaboration will create one of the largest battery manufacturing and storage supply chains for electric vehicles (EVs) globally,” a company spokesperson said.
As part of the agreement, SRAM & MRAM Group will lead efforts to secure single-window clearances, obtain grants, subsidies, and tax incentives, and establish partnerships with local entities. Meanwhile, Tesla Group will oversee the engineering, design, and construction of the gigafactory facilities.
Hiranandani noted that every gigafactory will cover around 500 acres and will function as the central hub for the complete battery production and storage ecosystem.
“By combining our advanced BESS technology with SRAM’s global expertise, we are not only building factories but also fostering vibrant communities that will drive the future of sustainable energy,” Tesla Group president Nanda Bhagi said.
The collaboration between Tesla Group and SRAM & MRAM marks a major advancement in expanding EV battery production on a global scale.
The integrated strategy is expected to fast-track EV adoption, draw significant investment, and elevate India and other nations as key contributors to the global clean energy movement.
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