Gujarat Fluorochemicals' electric vehicle subsidiary, GFCL EV, has successfully raised a significant amount of funding from various investors, including the INOXGFL Group and family offices from major business groups.

The funds will be used to expand capacity and take advantage of global opportunities in the electric vehicle and energy storage systems sectors.

GFCL EV aims to become a key supplier for leading automotive original equipment manufacturers (OEMs) and is confident in the potential for growth in the battery materials market.

Commercial sales are expected to start in the fourth quarter of this year, and the company is well-prepared to capitalize on its established capabilities and the long-term opportunities in the sector.