Hyderabad, 14th March 2025
Altmin Pvt Ltd, recognized as India’s foremost manufacturer of cathode active materials (CAM), has committed to an investment of approximately Rs 750 crores to establish the country’s inaugural lithium-ion phosphate (LFP) cathode gigafactory, with an initial production capacity of nearly 8 GWh. The company aims to scale this capacity to reach 100,000 MTPA by 2030.
The company yesterday laid the foundation stone at its 20-acre facility at Divitipally, about 100 km from Hyderabad. The facility is expected to support the supply of key battery materials for India’s energy storage and EV industries and play a crucial role in securing the country’s battery supply chain through partnerships with South American mines.
The facility, which is betting big on the growing demand for lithium-ion batteries across EVs, grid storage, and renewable energy applications, is also adjacent to Amar Raja’s facility which open’s up potential collaboration in the region’s evolving energy ecosystem and even serve as a key anchor in India’s green energy transition.
Speaking about the facility, Maurya Sunkavalli, Founder & MD, said the facility has opened new windows for India to seek battery-grade materials from South American mines. He further remarked that “Altmin will be a game changer for India’s battery industry. With support from the government and giants like Amara Raja, we are committed to creating a seamless ecosystem so that we can impact consumer behavior.”
D. Sridhar Babu, Minister for Industries, IT, E&C, Government of Telangana, also commented on the foundation stone laying, stating that the company’s secure supply chain and strategic partnerships are allowing them to scale up. “I think they will play a crucial role in the battery ecosystem of India. We need more bold companies like them to bridge the gap between the nation’s electric aspirations and reality.”
Ashwini Vaishnaw, Minister of Railways, Government of India, and Jayadev Galla, Co-founder of Amara Raja Group, were also present at the launch
