Exide Ind to set up Indias first multi-gigawatt lithium-ion cell manufacturing facility

27 Sep 2022 , 04:36 PM

Exide Industries announced the Bhoomi Poojan ceremony for its 1st lithium-ion cell manufacturing facility on Tuesday, 27 September22, at the Hi-Tech Defense & Aerospace park Phase 2, Bengaluru. The event marked the formal start of construction of one of Indias first multi-gigawatt hour lithium- ion cell manufacturing facility. Exides proposed Gigafactory will be spread over 80 acres of land and will be producing technology leading lithium-ion batteries to suit varied EV & Industrial segment requirements. Keeping this objective in mind, Exide has entered into a multi-year technical collaboration agreement with SVOLT Energy Technology Co. (SVOLT), a global technology company that makes and develops lithium-ion batteries and battery systems for EVs as well as for energy storage. In addition to technology, SVOLT will provide support for setting up the plant on a turnkey basis. Moreover, Exide will also set up a state-of-the-art R&D lab and pilot line to support new product development for the Indian market. The first phase of the facility is expected to be operational by the end of 2024. Powered by Capital Market – Live News