India, Feb. 13 -- Amid rising demand for electric vehicles (EVs) in India, Epsilon Group has agreed to invest INR 15,350 Cr (about $1.8 Bn) for setting up a manufacturing and research facility for EV battery testing and advanced materials in Karnataka.

The global battery material manufacturer signed a memorandum of understanding (MoU) with the Karnataka government at the four-day global investors conference, 'Invest Karnataka 2025' on Wednesday to give effect to the plan, PTI reported.

This strategic investment, planned over the next 10 years, is expected to strengthen the domestic EV ecosystem and help India cement itself as a hub for advanced battery technology.

As part of the deal, Epsilon Group and its subsidiaries Epsilon Advanced...