- TESLA Group a.s. and SRAM & MRAM Group will establish 20+ giga factories worldwide
- The partnership supports the Paris Climate Accord goals, aiming for peak greenhouse gas emissions
- Each 500-acre facility will house end-to-end battery production
TESLA Group a.s., a leader in battery energy storage systems (BESS), and SRAM & MRAM Group, the world leader in technology and sustainable development, have come together to sign a significant $1 billion deal to build over 20 giga factories worldwide, five of which will be located in India.
This collaboration has the potential to substantially change the global market for green energy storage and expedite the goals of the Paris Climate Accord to limit global warming to 1.5°C, peaking greenhouse gas emissions before 2025 and a 43% reduction by 2030.
The effort will build one of the largest battery manufacturing and storage supply chains for electric vehicles (EV) in the world. The giga factories will be distributed across Slovakia, Romania, Bulgaria, five states in India including Maharashtra, Telangana, Gujarat, Karnataka, and Andhra Pradesh, as well as Texas and Florida in the USA, Kuala Lumpur in Malaysia, Oman, Brazil, the UAE, Cambodia, Australia, and Nigeria.
The geo-locations were selected based on their renewable energy potential, and government incentives, and demand for the product.
Each facility will have an area of nearly 500 acres, and will have end-to-end operations of battery manufacturing and storage, with an operational capacity of 100,000 employees per facility.
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SRAM & MRAM Group will handle the necessary local approvals, grants, subsidies, tax incentives, and local partnerships, while TESLA Group a.s. will provide oversight for the design, engineering, and construction to ensure everything is connected seamlessly.
Nanda K. Bhagi, President of TESLA Group a.s. stated, "This partnership is a game-changer for the global clean energy transition. 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".
"We are thrilled to partner with TESLA Group a.s. on this groundbreaking initiative. Our expertise in technology, healthcare, and global operations will catalyze innovation in renewable energy and biotechnology, creating jobs, advancing technology, and delivering economic benefits across 20 nations", added Dr. Sailesh L. Hiranandani, Chairman of SRAM & MRAM Group.
In India, the five giga factories will move the country toward Net Zero by 2070, which will pave the way for renewable energy growth and assist in expanding energy efficiency measures, as well as incentives for hydrogen production.
This partnership reflects a commitment to both companies’ commitment to systemic innovation, climate change mitigation, and global sustainable low carbon future.