Exide Industries Ltd invested ₹450 crore in its wholly owned subsidiary, Exide Energy Solutions Ltd. The latest capital infusion is part of the company’s strategy to strengthen its presence in the lithium-ion battery manufacturing sector, which is expected to play a key role in India’s electric mobility and energy storage markets.
Total Investment in Subsidiary Crosses ₹4,800 Crore
With the new investment, Exide Industries’ total investment in Exide Energy has reached ₹4,802.23 crore. Despite the fresh capital infusion, the company confirmed that its shareholding structure remains unchanged, with Exide continuing to hold 100% ownership of the subsidiary. The move highlights Exide’s long-term commitment to expanding its advanced battery technology capabilities in India.
EESL Focuses on Lithium-Ion Battery Manufacturing
Exide Energy Solutions Ltd, incorporated on March 24, 2022, was established to drive Exide’s entry into the lithium-ion battery value chain. The subsidiary focuses on the manufacturing and sale of lithium-ion battery cells, modules, and battery packs. As India accelerates its transition toward electric mobility and renewable energy integration, demand for high-performance lithium-ion batteries is expected to rise significantly.
Greenfield Lithium-Ion Manufacturing Facility in Bengaluru
To support its long-term growth plans, EESL is currently developing a greenfield lithium-ion battery manufacturing facility in Bengaluru. The proposed plant will produce lithium-ion cells, modules, and battery packs, enabling the company to build a strong domestic manufacturing base. Exide stated that the ₹450 crore equity infusion will be utilised to support the development of this greenfield project and meet EESL’s broader funding requirements. As reported by pv-magazine-india.com, the investment is expected to accelerate the establishment of advanced battery manufacturing infrastructure in India.
