Exide To Start Assembling Lithium-Ion Batteries From Dec

The company said, that it has invested around ₹100 crores in the project and another ₹100 would be pumped in later

Looking at the country’s electric vehicle (EV) market and grid-based applications, Exide Industries Ltd., will start assembling lithium-ion batteries from December, a top company official said on Wednesday. Country’s largest lead-acid battery maker had formed a joint venture with Switzerland-based Leclanch SA, one of the world’s leading energy storage solution companies, in June last year. The JV was formed between Exide and Leclanch in a 75:25 ratio.

"We will begin assembling lithium-ion batteries from imported cells of China in December this year. We will make batteries for several applications including electric vehicles depending on demand," Exide MD & CEO Gautam Chatterjee said.

The plant in Gujarat is the first indigenous facility in the country for manufacturing of lithium-ion batteries and it also provides energy storage solutions for the electric vehicles.

The company said, that it has invested around ₹100 crores in the project and another ₹100 would be pumped in later. Despite foraying into future battery technology, there is no major threat for lead-acid batteries for the next 10-15 years given the affordability factor, Chatterjee added.

Lithium-ion batteries are at least four times more expensive than that of lead-acid. Meanwhile, the electric vehicle revolution in India is underway and with a push from the centre, it was estimated that 40 percent of cars sold in the country by 2030 could be electric, a study report said.