Exide Energy To Set Up Li-Ion Battery Production In Bengaluru
- SVOLT will certainly grant Exide the right and certificate to use, exploit and commercialise essential technology and expertise possessed by SVOLT for lithium-ion cell production in India.
- And the new manufacturing organization by Exide will certainly be accomplished by producing a new SPV in the form of a subsidiary that will be totally possessed by Exide.
Exide Industries has actually announced that the firm will develop a lithium-ion battery cell production center of gigawatt range in Bengaluru, Karnataka. Exide is the biggest lead-acid battery manufacturer in India and the revelations have been made in a regulatory filing by the firm.
Exide has joined hands in collaboration with SVOLT Energy Technology Co Ltd (SVOLT) in the new scheme of things of lithium-ion manufacturing. SVOLT will certainly provide Exide the right and certificate to use, exploit and commercialise SVOLT-owned technology and know-how for lithium-ion cell production in India. This belongs to a legal agreement and the right of Exide will certainly be irreversible.
Exide said in its filing, "Exide Energy Solutions Ltd, wholly possessed subsidiary of Exide Industries has executed the lease orgasm sale agreement on July 26, 2022, for acquiring land parcel admeasuring 80 acres at Hitech, Defence & Aerospace Park, Phase-2, Bengaluru with Karnataka Industrial Areas Growth Board (KIADB).".
Exide has shared that the land will be made use of for the establishment of the state-of-the-art green field multi-gigawatt Li-ion battery cell production center for the new-age electrical mobility and fixed application services in the country.
Exide Industries had actually become part of a technological cooperation with SVOLT, a Chinese player, to start lithium-ion battery making in the nation. It has actually been reported that the Chinese business will certainly expand support for setting up of the greenfield lithium ion battery manufacturing facility on a complete basis. And the new manufacturing organization by Exide will be carried out by developing a new SPV in the form of a subsidiary that will be totally owned by Exide.
Subir Chakraborty, Exide MD and CEO, stated, "With SVOLT's solid technical competence, R&D capabilities and rich experience in producing lithium-ion batteries, Exide intends to set-up a multi-gigawatt lithium-ion cell manufacturing facility. Spread out throughout two prominent cell chemistries and 3 cell formats, this unit will be distinctively put to accommodate the varied requirements of customers in India.".