Positioning for Market Leadership
Exide Industries is set to make a significant impact on India’s rapidly growing electric vehicle (EV) sector. The company’s subsidiary, Exide Energy Solutions (EESL), is nearing completion of an ambitious 12-gigawatt (GWh) lithium-ion cell manufacturing plant in Bengaluru. This strategic move positions Exide as a key player in the burgeoning Indian EV market, where the demand for lithium-ion batteries is surging.
Phase One Nears Completion
The first phase of the project, with a capacity of 6 GWh, is expected to be operational by the end of the current financial year. EESL has already secured strategic partnerships, including a non-binding memorandum of understanding (MOU) with Hyundai Motor and Kia Corporation for cooperation in the EV market. This collaboration further strengthens Exide’s position in the industry.
Commitment to the Future of Mobility
Exide’s investment in lithium-ion cell manufacturing demonstrates its forward-thinking approach and commitment to the future of mobility. The company’s extensive experience in the lead-acid battery sector, combined with its strategic entry into the lithium-ion battery market, makes it a versatile and well-positioned player in the evolving energy storage landscape. As electric vehicle sales continue to grow in India, Exide Industries is well-poised to capitalize on the opportunity, providing a crucial component for the nation’s transition to a cleaner, more sustainable transportation future.
