Exide Industries Limited is pleased to announce the Bhoomi Poojan ceremony for its first lithium-ion cell manufacturing facility on 27th September ’22, at the Hi-Tech Defense & Aerospace park Phase 2, Bengaluru.

The event marked the formal start of construction of one of India’s first multi-gigawatt hour lithium- ion cell manufacturing facilities.

The grand ceremony was graced by Chief Minister of Karnataka, Basvaraj Bommai and Honourable Minister for IT, BT, Higher Education & Skill Development Dr. C.N. Ashwath Narayan along with other key government representatives and stakeholders, in the presence of the senior management team of Exide Industries Ltd.

Speaking on the occasion, Exide MD & CEO Subir Chakraborty said, “While we continue to maintain our leading position in the lead-acid battery market for the past 75 years, we have simultaneously taken significant steps to strengthen our position in the emerging Li-Ion market. On this auspicious day of the Bhoomi Poojan, we are delighted to give a formal start to this greenfield unit coming up under Exide Energy Solutions Ltd.”

“This would not have been possible without the strong support of the Karnataka Government to bolster the EV ecosystem,” added Chakraborty.

Exide’s proposed Gigafactory will be spread over 80 acres of land and will be producing technology leading lithium-ion batteries to suit varied EV and industrial segment requirements. Keeping this objective in mind, Exide has entered into a multi-year technical collaboration agreement with SVOLT Energy Technology Co. Ltd (SVOLT), a global technology company that makes and develops lithium-ion batteries and battery systems for EVs as well as for energy storage.

In addition to technology, SVOLT will provide support for setting up the plant on a turnkey basis. Moreover, Exide will also set up a R&D lab and pilot line to support new product development for the Indian market. The first phase of the facility is expected to be operational by the end of 2024.