The International Finance Corporation (IFC) is investing approximately US$50 million in Gujarat Fluorochemicals Limited’s (GFL) subsidiary, GFCL EV Products Limited, to build India’s first integrated battery materials facility. The investment will support high-value manufacturing, job creation, and strengthen India’s position in global supply chains. This facility will advance energy security and transport electrification.
IFC Backs Battery Materials Facility
December 5, 2025: Gujarat Fluorochemicals Limited (GFL) announced a partnership with the International Finance Corporation (IFC), where IFC is investing approximately US$50 million in GFCL EV Products Limited to support the construction of India’s first integrated battery materials facility.
Strategic Impact and Goals
GFCL EV aims to strengthen India’s position in the global battery materials value chain. The integrated facility is expected to support clean-technology adoption, lower emissions, and contribute to India’s ambition to become a global hub for advanced battery materials. The facility will drive high-value manufacturing and create jobs.
GFCL EV’s Capabilities
GFCL EV has integrated manufacturing capabilities for battery chemicals, including:
- Battery chemicals – electrolyte salt LiPF6, electrolyte formulations, additives
- Cathode active materials (LFP)
- Binders (both PVDF and PTFE)
Leadership Perspectives
Mr. Vivek Jain, Chairman, INOXGFL Group, stated that the partnership with IFC reinforces the vision for a greener future and will aid in accelerating India’s energy transition.
Dr. Bir Kapoor, DMD and CEO, Gujarat Fluorochemicals Ltd., added that this is IFC’s first investment in a battery materials company in India and enables the scaling up of manufacturing capacity, strengthening India’s position in the global supply chain. GFCL EV’s portfolio covers more than 50% of the LFP battery cell bill of materials.
About Gujarat Fluorochemicals
Gujarat Fluorochemicals Limited (GFL) is a leading producer of fluoropolymers, fluorochemicals and battery materials, part of the US$ ~ 18 bn INOXGFL Group.
Source: BSE