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Graphite India acquires 31% stake in Hyderabad EV battery maker GODI India for Rs 50 crore

HYDERABAD: Graphite electrodes manufacturer Graphite India Limited is acquiring 31% stake in Hyderabad-based EV battery and ESS solutions provider GODI India for a cash consideration of Rs 50 crore.
Graphite India said it has entered into a definitive agreement to invest in compulsory convertible preference shares of GODI India Private Ltd, which will give it an equity shareholding of 31% on a fully diluted basis in the Hyderabad company.
GODI India, which is backed by venture capital player Blue Ashva Capital, is engaged in advanced chemistry R&D for manufacturing sustainable batteries for electric vehicles and supercapacitor-based energy storage systems.
Apart from high power density Lithium-ion batteries, GODI India has also developed technical expertise in advanced technologies such as sodium ion and solid state batteries. The environmental friendly technologies and carbon neutral processes it has developed include aqueous electrode processing, active dry coating and pranic binder.
Graphite India executive director Ashutosh Dixit said the strategic investment is part of the company’s strategy to diversify into advanced battery and energy storage systems technologies.
“GODI India is leading the development of Lithium ion, Sodium ion and Solid-State batteries for electric vehicles and consumer electronics for Indian and global markets. This strategic move reaffirms Graphite India’s commitment towards technological innovation and growth, which is a significant step for creating a diversified business portfolio.”
Pointing out that his company has developed all the essential battery materials and components using environmentally friendly processes, GODI India founder & director Mahesh Godi said their battery product applications focus on high growth, dynamic electric vehicle and consumer electronics markets.
“GODI India has also developed supercapacitors for a wide range of regenerative energy storage systems for industries including automobiles, trains, telecom towers and power transmission grids. As a testament to our R&D capabilities, the company received India’s first Bureau of Indian Standards (BIS) certification for in-house developed electric vehicle battery cells,” he said.

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