Exide Industries Limited approved an additional equity investment of ₹1 billion in its wholly owned subsidiary, Exide Energy Solutions Limited. The funding, made through the allotment of equity shares, keeps Exide’s stake in Exide Energy Solutions unchanged at 100%. With this infusion, Exide’s cumulative investment in EESL now stands at ₹37.0223 billion.
Boosting Lithium-Ion Cell Project
The investment will support the development of Exide Energy Solutions’ ambitious 12 GWh greenfield lithium-ion cell manufacturing facility in Bengaluru. It will also address the subsidiary’s other funding requirements. Phase I of the project, comprising four advanced production lines with a combined capacity of 6 GWh, is on track to start commercial production by the end of the 2025–26 financial year.
Strengthening EV and Energy Storage Solutions
Exide Energy Solutions focuses on manufacturing and marketing lithium-ion battery cells, modules, and packs. As reported by renewablewatch.in, the products cater to both electric vehicle manufacturers and stationary energy storage applications, positioning Exide to meet India’s growing demand for sustainable energy solutions.
