Exide Industries Reveals Lithium Cell Manufacturing Plans
- India's biggest battery manufacturer Exide Industries has actually revealed its venture into lithium-ion (Li-ion) cell manufacturing with a multi-gigawatt plant planned soon.
The manufacturing will be done with its subsidiary Exide Leclanche Energy Private Limited (under the brand Nexcharge), where Exide recently boosted its risk to over 80%. Currently, the firm has a 1.5 GW battery pack setting up plant that produces for EV's and grid applications. For the Rs 10,040 crore (FY21) Exide, a foray right into Lithium cell manufacturing is a rational final thought considering its transcendent position in the Indian market.
"The board of directors of firm at its conference held today i.e. 21st December 2021 accorded in-principle approval to establish a green area multi-gigawatt Li-ion cell production facility in India," Exide Industries stated in an exchange filing. The business currently has factory across Maharashtra, West Bengal, Haryana, Tamil Nadu as well as Uttarakhand. It has not disclosed the area of the intended manufacturing plant yet.
The business has actually said that it also intends to apply for and participate in the Ministry of Heavy Industries' production-linked incentive (PLI) system for making Advanced Chemistry Cell (ACC) in the nation. The federal government had in May cleared the Rs 18,100-crore system targeted at advertising local production by battery manufacturers.
Exide Chief Executive Officer Subir Chakroborty is positive concerning the opportunities for the brand-new plant, with the high support from the federal government for EV's. Calling cell producing an indispensable part of the Li-ion battery production chain, Chakraborty worried on the need to manufacture these domestically to be affordable on the market.
In an interview to SaurEnergy, Stefan Louis, the head of the Leclanche JV, had approximated the size of the Indian market at 80 GWh by 2030, with the company targeting a 20-30% market share.
