GFL said IFC’s commitment validates its integrated manufacturing strategy and adds momentum to its expansion plans in the rapidly growing EV and energy-storage sectors. The International Finance Corporation (IFC) has committed about $50 million to GFCL EV Products Ltd, a subsidiary of Gujarat Fluorochemicals Ltd (GFL), to develop India’s first fully integrated battery-materials manufacturing facility at Jolva near Bharuch in Gujarat, according to a Times of India report.
The investment, routed through compulsorily convertible instruments, will support large-scale production of lithium hexafluorophosphate (LiPF6), electrolyte formulations, lithium iron phosphate (LFP) cathode materials, and PVDF/PTFE binders used in electric vehicles and energy-storage systems.
The greenfield project is expected to significantly strengthen India’s domestic battery-materials supply chain, reduce import reliance, and enhance the country’s competitiveness in the global clean-energy ecosystem.
In a statement, GFL said IFC’s commitment validates its integrated manufacturing strategy and adds momentum to its expansion plans in the rapidly growing EV and energy-storage sectors. Barclays acted as financial advisor to GFCL EV for the transaction.
- Published On Dec 6, 2025 at 08:17 AM IST
Join the community of 2M+ industry professionals.
Subscribe to Newsletter to get latest insights & analysis in your inbox.
All about ETAuto industry right on your smartphone!
