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Karnataka Govt & IBC Signed MoU

Published on August 04, 2023
Current Context: MoU signed by the Karnataka government and the US-based International Battery Company (IBC) to set up a recyclable Lithium-ion battery unit in the state.
Karnataka Govt & IBC Signed MoU
  • This is a significant development for the renewable energy sector in India, as it will boost the production and use of eco-friendly batteries for various applications.
  • The MoU was signed on August 1, 2023, in the presence of Large and Medium Industries Minister M B Patil. The proposed unit will be established on a 100-acre parcel of land in the Bengaluru Rural district, with an investment of Rs 8,000 crore (USD 1 billion).
  • The unit will produce recyclable Lithium-ion batteries that can be used for electric vehicles, grid storage, and other purposes.
  • The IBC team explained that their batteries are based on a patented technology that allows them to be recycled up to 90% of their original capacity, reducing the environmental impact and cost of battery disposal.

Question:

Q.1 Which US-based company signed the MoU with the Karnataka government to set up a recyclable Li-ion battery unit in the state?
a. Tesla
b. Panasonic
c. International Battery Company
d. LG Chem
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