Exide Industries, at its board meeting held today, has decided to set up a multi-gigawatt lithium-ion cell manufacturing plant. It also plans to apply for and participate in the Production-Linked Incentive Scheme for National Programme on Advanced Chemistry Cell(ACC) battery Storage, issued by the Ministry of Heavy Industries.
With the evaluation of the next steps, Exide said it shall be sharing more details on the above as it further develops its plans.
Exide has also forayed into Lithium-ion battery systems and energy solutions through its subsidiary Exide Leclanche Energy Private Limited (under the brand Nexcharge), together with the JV partner Leclanche SA, Switzerland. With its state-of-the-art R&D centre, thesubsidiary aims to build lithium-ion batteries and provide energy storage systems for India’s electric vehicle (EV) market and grid-based applications, it added.
"We have now planned to setup a multi-gigawatt lithium-ion cell manufacturing plant and to participate in the Production-Linked Incentive Scheme for Advanced Chemistry Cell manufacturing as proposed by Government of India. Cell manufacturing is an integral part of the Lithium-ion battery manufacturing chain, and we believe that the setting up of this plant will enable us to be more cost-competitive and better serve our esteemed customers,'' said Subir Chakraborty, MD & CEO.
Exide designs, manufactures, markets and sells the widest range of lead acid storage batteries. The batteries are manufactured for the automotive, power, telecom, infrastructure projects, computer industries, as well as the railways, mining and defence sectors. The company enjoys leadership position in India and its exports span 60 countries across six continents.
