About GFCL EV Products Limited

GFCL EV Products Limited (GEPL) is engaged in the business of manufacturing of lithium and sodium ion batteries, battery components, and products for Electric Vehicles(EV). It offers products such as LiPF6, NaPF6, PVDF, Electrolyte, and LFP(CAMs). It is a part of the Inoxgfl Group. The company was incorporated in 2021 and has its registered office located in Gujarat.

Overview of GFCL EV Products Limited

GFCL EV Products Limited is a wholly owned subsidiary of Gujarat Fluorochemicals Limited (GFL) under the INOXGFL Group. The company manufactures advanced materials for lithium-ion and sodium-ion batteries, catering to the electric vehicle (EV) and energy storage sectors. With a strong focus on backward integration, sustainability, and innovation, GFCL EV supports India's clean energy goals through its state-of-the-art facilities in Gujarat.

Business Model Overview – Key Highlights

1. Engaged in the production and distribution of battery materials, covering over half of the lithium-ion battery value chain.
2. Implements a backward integration approach to enhance supply chain robustness and minimize reliance on Chinese imports.
3. Offers a comprehensive product mix that includes:
4. Cathode Active Materials (CAM) – Primarily Lithium Iron Phosphate (LFP)
5. Electrolytes – Including salts, additives, and formulated solutions
6. Binders – Such as PVDF and PTFE
7. Develops products that are compatible across multiple battery chemistries.
8. Operates across major markets including India, the United States, and the European Union.
9. Maintains long-term strategic supply agreements with top-tier EV OEMs and battery manufacturers.

Industry Overview

1. Global Battery Market:

1. The Total Addressable Market (TAM) stood at USD 120.74 billion in 2023.
2. Projected to reach USD 300 billion by 2030, registering a CAGR of 15.4% (2023–2031).
3. 2. Lithium Battery Materials Market (Ex-China):Demand for LFP Cathode Active Materials outside China is forecasted to increase from 21 kT in FY24 to 169 kT in FY31, implying a 34% CAGR.
4. 3. GFCL EV's Target Market:The TAM for global EV lithium battery materials is projected at:
5. USD 35 billion in FY24
6. USD 116 billion by FY31E
7. GFCL EV’s offerings address approximately 40% of the value chain of an LFP cell, positioning it strategically within the battery materials ecosystem.

Products

1. Battery Chemicals
2. Fluropolymers
3. CAM

Global Expansion

GFL’s global footprints are represented by three manufacturing sites in India, a captive Fluorspar mine in Morocco and wholly-owned subsidiaries in Europe and USA. GFL’s products are established in international markets with businesses in western regions being managed by our subsidiaries. Gujarat Fluorochemicals GmbH, located in Hamburg, Germany & GFL Americas, located in Texas, USA cater to regions of Europe, Middle East and Africa and Americas respectively. Our marketing offices across geographies are well supported by modern warehouses, robust logistics provided by dedicated partners, technical support teams and a widespread marketing network.

Insights of GFCL EV Products Limited

SWOT Analysis