Exide Energy To Set Up Li-Ion Battery Manufacturing In Bengaluru

By Saur News Bureau/ Updated On Fri, Jul 29th, 2022

Highlights :

SVOLT will grant Exide the right and license to use, exploit and commercialise necessary technology and know-how owned by SVOLT for lithium-ion cell manufacturing in India.
And the new manufacturing business by Exide will be carried out by creating a new SPV in the form of a subsidiary that will be completely owned by Exide.

Exide Energy To Set Up Li-Ion Battery Manufacturing In Bengaluru

Exide Industries has announced that the company will establish a lithium-ion battery cell manufacturing facility of gigawatt scale in Bengaluru, Karnataka. Exide is the largest lead-acid battery manufacturer in India and the revelations have been made in a regulatory filing by the company.

Exide has joined hands in partnership with SVOLT Energy Technology Co Ltd (SVOLT) in the new scheme of things of lithium-ion manufacturing. SVOLT will give Exide the right and license to use, exploit and commercialise SVOLT-owned technology and know-how for lithium-ion cell manufacturing in India. This is part of a legal agreement and the right of Exide will be irrevocable.

Exide said in its filing, “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).”

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Exide has shared that the land will be used for the establishment of the 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 the country.

Exide Industries had entered into a technical collaboration with SVOLT, a Chinese player, to begin lithium-ion battery making in the country. It has been reported that the Chinese company will extend support for setting up of the greenfield lithium ion battery factory on a turnkey basis. And the new manufacturing business by Exide will be carried out by creating a new SPV in the form of a subsidiary that will be completely owned by Exide.

Subir Chakraborty, Exide MD and CEO, said, “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.”