Exide Industries, a manufacturer of automotive and industrial batteries, plans to invest Rs6,000 crore in a production facility for 12 GWh lithium-ion cells in Karnataka over the next 8—10 years. According to a BusinessLine(BL) article, the first phase, which has a capacity of 6 gigawatt-hours, is anticipated to be finished in 27 to 30 months.
“Our business is debt-free, and we have enough reserves. In order to finance the project, we would thus consider internal accruals as well as some bridging loan options from banks if needed. Exide’s MD and CEO is Subir Chakraborty.
The building is anticipated to cover 80 acres. A partnership agreement between Exide and SVOLT Energy Technology Co Ltd (SVOLT), a company that manufactures and develops lithium-ion batteries and battery systems for electric vehicles and energy storage, has been signed.
According to the BL report, SVOLT is giving Exide an unrevocable right and license to utilize, capitalize on, and market the knowledge and technology required for Li-ion cell production in India that belongs to them. The nation dominates the market for lead-acid batteries. To become a significant player in the Li-ion battery business, it has been making preparations. Nexcharge, a division of Exide, produces lithium-ion battery packs and modules. One of India’s biggest such facilities is this one.
The firm anticipates earning between Rs10,000 and Rs12,000 crore annually from the lithium-ion cell market over the course of the following 8 to 10 years, according to BL. Since the lead-acid industry will also be expanding, it is impossible to predict what proportion of the whole market lithium-ion will make up in the future, according to Chakraborty.
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