Exide Industries Powers Up: Over ₹100 Crore Investment in Advanced Battery Cell Manufacturing

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Exide Industries Invests Over ₹100 Crore in Advanced Battery Cell Manufacturing Subsidiary

Exide Industries, a leading storage battery manufacturer, has announced a strategic investment of over ₹100 crore in its wholly-owned subsidiary, Exide Energy Solutions Ltd (EESL). EESL specializes in the manufacturing of advanced chemistry battery cells, including cylindrical, pouch, and prismatic types.

Investment Details

The investment was made through a subscription in the equity share capital of EESL on a rights basis. This move is part of Exide Industries’ efforts to expand its presence in the advanced battery cell manufacturing market.

Exide Industries has been a leader in the storage battery manufacturing industry for many years. The company has a strong presence in the automotive and industrial battery markets. With this investment, Exide Industries is looking to expand its presence in the advanced battery cell manufacturing market.

Advanced battery cells are used in various industries, including automotive, consumer electronics, and renewable energy. The demand for advanced battery cells is expected to grow significantly in the coming years. By investing in EESL, Exide Industries is positioning itself to take advantage of this growing demand.

Li-On Cell Manufacturing Plant

EESL is currently executing the setting up of an ambitious Li-On cell manufacturing plant. The plant will be a green field multi-gigawatt facility, capable of producing advanced battery cells at scale.

The Li-On cell manufacturing plant is expected to be one of the largest and most advanced facilities of its kind. The plant will use state-of-the-art technology to produce high-quality advanced battery cells at scale. This will enable Exide Industries to meet the growing demand for advanced battery cells in various industries.

The Li-On cell manufacturing plant is also expected to create many jobs and contribute to the local economy. The plant will require skilled workers and engineers to operate and maintain the facility. This will provide employment opportunities for local residents and help boost the local economy.

Conclusion

This investment by Exide Industries is a significant step towards the company’s goal of becoming a major player in the advanced battery cell manufacturing industry. With the growing demand for advanced battery cells in various industries, this move is expected to position Exide Industries as a key player in the market.

In conclusion, Exide Industries’ investment of over ₹100 crore in its wholly-owned subsidiary, EESL, is a strategic move towards expanding its presence in the advanced battery cell manufacturing market. The company’s ambitious Li-On cell manufacturing plant is expected to position it as a major player in the industry.

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