Indian battery major Exide has announced the formal start of the construction of its first multi-gigawatt hour lithium-ion cell manufacturing facility at Haraluru in Bengaluru. Built under its subsidiary Exide Energy Solutions Limited (EESL), the cell making facility is expected to become operational by the end of 2024.
The foundation ceremony was graced by Karnataka CM Basavaraj Bommai at the Hi-Tech Defense and Aerospace Park (Phase 2) in the city, in presence of MD and CEO of Exide, Subir Chakraborty, and other dignitaries.
The plant, spread over 80 acres with an investment of about ₹ 4,000 crores, is expected to make advanced chemistry lithium-ion battery cells to cater to the emerging EV and energy storage industries in the country. Exide is also reported to establish a leading R&D and pilot line to support new product developments in the coming years.
Speaking on the occasion, Subir Chakraborty said, "On this auspicious day of the Bhoomi Poojan, we are delighted to give a formal start to this greenfield unit coming up under Exide Energy Solutions Ltd.", as reported by news media.
It is to be noted that Exide entered into a multi-year technical collaboration agreement with the Chinese battery manufacturer SVOLT Energy Technology recently to develop lithium-ion battery systems for global markets.
SVOLT is reportedly providing support for establishing the new cell manufacturing facility, along with the battery technology, on turnkey basis.
Earlier, Exide industries also participated in the bidding processes of Union government's Production-Linked Incentives (PLI) Scheme for National Programme on Advanced Chemistry Cell (ACC) Battery Storage.