Exide Industries invested ₹200 crore in its wholly owned subsidiary Exide Energy Solutions Ltd (EESL) through a rights-based equity subscription. The latest funding will support the development of EESL’s greenfield multi-gigawatt lithium-ion cell manufacturing facility in India. The investment strengthens Exide Industries’ strategy to build domestic battery manufacturing capabilities and serve India’s growing demand for electric vehicle (EV) batteries and stationary energy storage systems.
Exide Infuses ₹199.99 Crore into EESL
Following the latest infusion, Exide Industries’ total investment in EESL has increased to ₹5,102.23 crore, including its investment in the erstwhile merged subsidiary Exide Energy Private Ltd (EEPL). Despite the additional capital infusion, Exide Industries’ ownership in EESL remains unchanged at 100%.
EESL Develops Multi-Gigawatt Lithium-Ion Cell Plant
EESL was incorporated to develop advanced battery manufacturing capabilities in India. The company is setting up a greenfield lithium-ion battery manufacturing facility in Bengaluru. The plant will produce lithium-ion cells, modules and battery packs for India’s expanding electric vehicle market and stationary energy storage applications. The facility is planned with an initial manufacturing capacity of 6 GWh, which can subsequently be scaled up to 12 GWh.
Facility to Manufacture Cylindrical and Prismatic Cells
The Bengaluru project will feature four production lines covering both cylindrical and prismatic lithium-ion cell formats. The facility will cater to two major battery chemistries Lithium Iron Phosphate (LFP) and Nickel Manganese Cobalt (NMC). This diversified manufacturing capability will enable EESL to address different requirements across electric mobility and stationary energy storage applications.
Exide Plans Further Investment in Battery Manufacturing
The latest ₹200 crore investment follows a larger funding commitment approved by the Exide Industries Board. On January 30, 2026, the board approved an additional investment of up to ₹1,400 crore in EESL. The proposed investment will be made through equity subscription in one or more tranches to fund the development of the greenfield multi-gigawatt lithium-ion cell manufacturing facility. The latest rights-based investment represents part of Exide Industries’ broader capital commitment towards building an integrated lithium-ion battery manufacturing ecosystem in India.
Strengthening India’s Domestic EV Battery Supply Chain
Exide Industries’ investment comes as India accelerates the adoption of electric vehicles and energy storage technologies. Developing domestic lithium-ion cell manufacturing capacity can help strengthen the local battery supply chain and reduce dependence on imported cells. As reported by pv-magazine-india.com, with its planned 12 GWh scalable capacity, EESL’s Bengaluru facility is positioned to become an important part of Exide Industries’ strategy to participate in India’s rapidly expanding EV and energy storage markets.
