TESLA Group a.s., a pioneer in battery energy storage systems (BESS), and SRAM & MRAM Group, a global technology and sustainability leader, have signed a landmark $1 billion agreement to establish over 20 giga factories worldwide, including five in India.
The strategic partnership aims to revolutionize the green energy storage landscape and accelerate global efforts to meet the Paris Climate Accord’s target of limiting global warming to 1.5°C. The initiative comes as the world races to peak greenhouse gas emissions before 2025 and achieve a 43% reduction by 2030.
The giga factories, each spanning nearly 500 acres, will be set up in Slovakia, Romania, Bulgaria, Texas (USA), Florida (USA), Kuala Lumpur (Malaysia), Oman, Brazil, UAE, Cambodia, Australia, Nigeria, and across 10 Indian states including Maharashtra, Telangana, Gujarat, Karnataka, Andhra Pradesh, Uttar Pradesh, Madhya Pradesh, and Jharkhand.
Designed to become one of the world’s largest battery manufacturing and storage supply chains for electric vehicles (EVs), each facility will have the potential to employ up to 100,000 people. TESLA Group a.s. will lead the design, engineering, and construction of the plants, while SRAM & MRAM Group will facilitate approvals, subsidies, and partnerships.
“This partnership is a game-changer for the global clean energy transition,” said Nanda K. Bhagi, President of TESLA Group a.s. “By combining our advanced BESS technology with SRAM’s global expertise, we are not only building factories but also fostering vibrant communities that will drive the future of sustainable energy.”
Echoing this vision, Dr. Sailesh L. Hiranandani, Chairman of SRAM & MRAM Group, said, “Our expertise in technology, healthcare, and global operations will catalyze innovation in renewable energy and biotechnology, creating jobs, advancing technology, and delivering economic benefits across 20 nations.”
In India, the five giga factories are expected to strengthen the country’s commitment to achieving Net Zero emissions by 2070, while supporting renewable energy expansion, efficiency programs, and hydrogen incentives.
This partnership marks a milestone in global climate action, underscoring both companies’ shared commitment to innovation, sustainability, and building resilient green economies worldwide.
