ARKANSAS, Oct 28 (Future Headlines)- Epsilon Advanced Materials (EAM), a prominent battery materials company based in India, has unveiled plans to establish a state-of-the-art graphite anode manufacturing facility in Brunswick County, North Carolina, representing a substantial investment of $650 million. This groundbreaking project marks the first Indian venture into the thriving US electric vehicle (EV) battery industry.

The ambitious timeline for the project involves commencing construction in 2024 and initiating manufacturing operations by 2026, with the aim of reaching full production capacity by 2031. The facility will incorporate eco-friendly technologies to produce high-capacity anode materials crucial for EV batteries.

The strategic decision to establish the manufacturing plant in Brunswick County, North Carolina, offers multiple advantages. This location is in close proximity to the Wilmington port, automotive suppliers, Southeastern vehicle manufacturing facilities, and the local community college. Such favorable proximity streamlines logistics, reduces operational costs and provides unhindered access to the rapidly expanding electric vehicle market. Furthermore, localizing battery manufacturing aligns with a broader objective of supporting automakers in harnessing EV subsidies made available under the US Inflation Reduction Act (IRA).

EAM’s North Carolina venture has already initiated discussions with local raw material suppliers and transportation partners to ensure the smooth operation of the facility. Once fully operational, the EAM plant is projected to produce an impressive 50,000 tons per annum (TPA) of graphite anode, significantly contributing to the supply of crucial battery components for the EV industry.

Additionally, in October, the Epsilon Group achieved a significant milestone by finalizing an agreement to acquire Johnson Matthey’s lithium iron phosphate (LFP) cathode active material technology center in Moosburg, Germany. This strategic move further underscores EAM’s commitment to advancing battery technology and strengthening its presence in the global EV market.

Writing by Alireza Sabet; Editing by Sarah White