GIGA FACTORIES
- October 12, 2020
- Posted by: OptimizeIAS Team
- Category: DPN Topics
No Comments
Subject: Economy
Context: Battery Companies are keen to setup advanced Giga factories in India.
Concept :
Elon Musk is believed to have first coined the term ‘Gigafactory’. In simpler terms, these are huge advanced manufacturing units.
In India,
Recently, the LIBCOIN consortium with Magnis Energy Technologies Limited holding 20 percent of non-dilutive ownership along with state-owned BHEL finalised a deal with the Government of India, Ministry of Heavy Industries and Public Enterprises, to build ‘India’s first Lithium-ion Battery Gigafactory’.