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IFC Invests ~USD 50 Million in GFCL EV to Develop India’s First Integrated Battery Materials Facility
Dec 06, 2025
The International Finance Corporation (IFC) is investing about USD 50 million in GFCL EV, a subsidiary of Gujarat Fluorochemicals, to help establish India’s first fully integrated battery materials facility. The investment, made through compulsorily convertible instruments, aims to accelerate high-value manufacturing, create skilled employment, and strengthen India’s place in the global battery-materials supply chain.
GFCL EV plans to build a comprehensive battery-materials ecosystem with backward integration into key raw materials. Its portfolio will cover a wide range of products used in electric vehicles and energy-storage systems, including electrolyte salts like LiPF?, formulated electrolytes, performance additives, LFP cathode active materials, and binders such as PVDF and PTFE. These capabilities are designed to support India’s clean-technology goals and its ambition to advance domestic manufacturing.
Company leaders highlighted that IFC’s involvement marks a major milestone for India’s battery-materials sector. They noted that the investment validates GFCL EV’s long-term strategy and reinforces its leadership in sustainable, innovation-driven manufacturing. The collaboration is expected to enhance India’s ability to produce advanced battery components locally, reducing reliance on global supply chains.
IFC representatives emphasized that this is their first investment in an Indian battery-materials firm and forms part of a broader program to strengthen India’s e-mobility value chain. By supporting the creation of an integrated, state-of-the-art battery-materials platform, IFC aims to promote innovation, improve energy security, attract additional private investment, and generate high-skilled jobs. The initiative aligns with India’s Make in India vision and the country’s growing focus on clean energy and advanced manufacturing.