Exide Industries’ Lithium-Ion Cell Project on Track for FY25 Completion

Exide Industries is set to complete the initial phase of its ambitious lithium-ion cell manufacturing plant in Bengaluru by March 2025, as confirmed by Managing Director and CEO Avik Roy. This facility, planned in two phases of 6 gigawatt hours (GWh) each, will see its first 6 GWh phase wrapped up by the end of the financial year. The project, which commenced in 2021, is progressing smoothly with a team of over 300 professionals dedicated to its success.

Under the banner of Exide Energy Solutions Limited (EESL), a wholly-owned subsidiary of Exide Industries, the project has seen significant financial backing. In FY24 alone, Exide invested Rs 1,285 crore in equity, raising the total investment in EESL to Rs 2,302 crore by March 2024, including contributions from the former Exide Energy Private Ltd. The company is also actively engaging with local and international suppliers for raw materials and key customers.

Exide’s entry into lithium-ion technology began in 2018 with a Gujarat-based battery module and pack facility, which is now operational and serving various sectors. With lithium-ion battery demand projected to hit 150 GWh by 2030, driven primarily by the mobility sector, Exide anticipates substantial growth opportunities.

Roy is optimistic about the future, highlighting increasing automotive volumes, rising export demand for lead-acid batteries, and robust order inquiries across industrial sectors.

News by Rahul Yelligetti