Exide to Set Up Li-ion Battery Cell Manufacturing Facility in Bengaluru

Exide Industries said its subsidiary has executed a sales agreement in Bengaluru to set up a lithium ion battery cell manufacturing facility.

Exide Energy Solutions Ltd (EESL) has executed the lease-cum-sale agreement with Karnataka Industrial Areas Development Board (KIADB) for procuring land parcel in Bengaluru, the company said in a regulatory filing.

The plant would be used to set up multi-gigawatt Li-ion battery cell manufacturing facility for the new-age electric mobility and stationary application businesses in India, it added.

EESL was incorporated in March 2022, with the main object of the company to carry out the business of manufacturing battery cells of advanced chemistry and form factor, including but not limited to the cylindrical, pouch, prismatic, (the Battery Cells), as well as manufacturing, assembling, selling battery modules, battery packs, and other related activities.