Manufacturing News

Exide Industries To Set Up Lithium-Ion Cell Manufacturing Facility In Bengaluru

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The country’s largest lead-acid battery maker, Exide Industries, on Wednesday said it will set up a lithium-ion battery cell manufacturing facility in Bengaluru, Karnataka.

The company said, “Exide Energy Solutions Ltd, wholly owned subsidiary of Exide Industries has executed the lease cum sale agreement on July 26, 2022, for procuring land parcel admeasuring 80 acres at Hitech, Defence & Aerospace Park, Phase-2, Bengaluru with Karnataka Industrial Areas Development Board (KIADB).”

“The land will be used to set up state-of-the-art green field multi-gigawatt Li-ion battery cell manufacturing facility for the new-age electric mobility and stationary application businesses in India,” it said.

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Back in March this year, Exide Industries had forged a multi-year technical collaboration with a Chinese company for lithium Ion battery manufacturing in India.

Exide said partner SVOLT Energy Technology Co Ltd (SVOLT) as part of the agreement will grant Exide an irrevocable right and license to use, exploit and commercialise necessary technology and know-how owned by them for lithium-ion cell manufacturing in India.

“SVOLT will also provide the support required for setting up of a state-of-the-art green field manufacturing plant on a turnkey basis. Exide is in the process of forming a Special Purpose Vehicle (SPV) by way of a wholly-owned subsidiary for carrying out the said lithium-ion cell manufacturing business,” company officials said.

The company has participated in the Production-Linked Incentives (PLI) Scheme for National Programme on Advanced Chemistry Cell (ACC) Battery Storage.

“With SVOLT‘s strong technical expertise, R&D capabilities and rich experience in manufacturing lithium-ion batteries, Exide plans to set-up a multi-gigawatt lithium-ion cell manufacturing facility. Spread out across two popular cell chemistries and three cell formats, this unit shall be uniquely placed to cater to the diverse requirements of customers in India,” Exide MD and CEO Subir Chakraborty said earlier.

SVOLT, a leader in new technology, is headquartered in Jiangsu province in China.

Shares of Exide Industries Ltd ended at Rs 156.10, up by Rs 6.00, or 4.00 percent on the BSE.

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