Exide Industries To Set Up Lithium-Ion Cell Manufacturing Plant In India

Exide Industries plans to set up a lithium-ion cell manufacturing plant in India. In a regulatory filing made at the Bombay Stock Exchange (BSE), the battery storage manufacturer has informed that it will be setting up a greenfield multi-gigawatt lithium-ion cell manufacturing facility in the country. The company also plans to apply for and participate in the Production-Linked Incentive (PLI) Scheme for National Programme on Advanced Chemistry Cell (ACC) battery Storage, issued by the Ministry of Heavy Industries.

Commenting on the new development, Subir Chakraborty, MD & CEO, said "Electric Vehicle penetration in India is expected to become a reality in the near future. The Government is pushing electric vehicle manufacturing through a supportive policy framework and by providing incentives to the manufacturers in this space. As a result, Lithium-ion battery-based storage solutions will gain prominence, for both Automotive and Industrial applications."

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The company also plans to apply for and participate in the Production-Linked Incentive (PLI) Scheme

He further said, "We have now planned to set up 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."

The company has already set up a state-of-the-art factory in JV with Leclanche SA, Switzerland, which is equipped with fully automated lithium-ion assembly lines for battery packs and modules. The factory has already started production and shall be offering energy solutions that are scalable and eco-friendly.