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Exide Industries has infused an additional ₹450 crore into its electric vehicle battery arm, Exide Energy Solutions Ltd, as its lithium-ion gigafactory in Bengaluru moves into the final stage of commissioning, marking a shift from the construction phase to execution.
The investment was made through the allotment of 11.25 crore equity shares at ₹40 each on a rights basis, taking Exide’s total commitment to the subsidiary to ₹4,802 crore while retaining full ownership.
The fresh capital will support last-mile requirements, including equipment calibration, trial runs, and working capital. The company is targeting the commencement of commercial production in the first half of FY26.
Phase 1 of the Bengaluru facility is expected to have an annual capacity of 6 GWh, producing both NMC (nickel manganese cobalt) cells for high-performance electric vehicles and LFP (lithium iron phosphate) batteries for mass-market EVs and stationary energy storage applications.
News by Rahul Yelligetti.
