GFCL EV Products Unlisted Shares
GFCL EV Products – Raises $80 Million to Scale Battery Materials Manufacturing
Mercom
2 min read
Expert Analysis:
GFCL EV Products Ltd, a subsidiary of Gujarat Fluorochemicals Ltd (GFL), has raised ~$80 million from a global investor, in addition to an earlier $50 million investment from the International Finance Corporation (IFC), taking total funding to ~$130 million.
The capital will be deployed to expand manufacturing capacity for advanced battery materials, strengthen global supply chain integration, and support India’s broader goals of transport electrification and energy security.
GFCL EV operates as a fully integrated battery materials company with backward integration into key raw materials, enhancing cost efficiency and supply reliability across the value chain.
Its product portfolio includes electrolyte salts (LiPF₆), electrolyte formulations, performance additives, cathode materials such as LFP, and polymer binders (PVDF, PTFE), catering to both EV and energy storage segments.
The company is part of the INOXGFL Group (~$18 billion enterprise), which has a diversified presence across chemicals and renewable energy, providing strong ecosystem support for scaling battery material operations.
The $80 million fundraise (total $130 million) strengthens GFCL EV’s ability to scale advanced battery materials manufacturing, positioning it as a key player in India’s EV supply chain and global battery ecosystem, with integrated capabilities supporting long-term growth.
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