GFCL EV Products, a subsidiary of Gujarat Fluorochemicals (GFL), has secured an investment of ~$50 million (~₹4.5 billion) from the International Finance Corporation (IFC) to develop an integrated battery material facility.

The funding is being raised through subscription of compulsorily convertible instruments.

GFCL EV has fully integrated manufacturing capabilities for battery chemicals, with backward integration into key raw materials, and its product portfolio caters to both the electric-vehicle and energy-storage sectors.

The facility will be able to manufacture the electrolyte salt lithium hexafluorophosphate, electrolyte formulations, and additives for enhanced performance. Its product portfolio will also include cathode active materials and binders such as polyvinylidene fluoride and polytetrafluoroethylene.

IFC said that investment is part of its efforts to strengthen India’s e-mobility value chain and advance the ‘Make in India’ initiative.

The facility is expected to be the first‑of‑its‑kind greenfield battery manufacturing facility and build the capabilities India needs to play a larger role in high‑value components worldwide.

GFL is a producer of fluoropolymers, fluorochemicals, and battery materials. It is part of the ~$18 billion (~₹1.62 trillion) INOXGFL Group, which is primarily focused on two business verticals—chemicals and renewable energy.

In September 2025, Inox Solar, a subsidiary of INOXGFL, partially commissioned 1.2 GW of its 3 GW solar module manufacturing plant in Bavla, Ahmedabad, Gujarat. The manufacturing plant was established in four months. In the next phase, Inox plans to add 1.8 GW of module manufacturing capacity at the plant.

According to India’s Energy Storage Landscape 1H 2025 Report by Mercom Research, India added 48.4 MWh of energy storage capacity in the first half of 2025, a 74% decline from 186 MWh added in the same period last year. India’s cumulative installed energy storage capacity reached 490 MWh by the end of June 2025. As of June 2025, India had about 13.7 GWh of standalone battery storage under development.