Exide Eyeing To Set Up Lithium-Ion Battery Manufacturing Unit In India

- Advertisement -

Chakraborty hinted that the company may look at forming a joint venture for the same, while saying that finer details will be worked out later

As the need for EV infrastructure in the country become more and more clear, battery company Exide Industries has now disclosed its desire to venture into manufacturing lithium-ion batteries.

Exide, which is the country’s largest lead-acid battery maker, said during the company’s AGM that it is still awaiting the guidelines of the Productivity Linked Incentive (PLI) scheme for ACC batteries to be notified.

- Advertisement -

“We are evaluating installing Advance Cell Chemistry Project. We are waiting for the PLI details as it will act as a sweetener…. It entails huge capex. However, the project viability will depend on future demand for lithium-based batteries,” Exide MD & CEO Subir Chakraborty said on the sidelines of the company’s AGM.

The PLI scheme, which was recently approved by the Centre with an outlay of Rs 18,100 crore, is intended to establish 50 GWh of advanced cell chemistry and 5 GWh of niche advanced cell chemistry.

Chakraborty hinted that the company may look at forming a joint venture for the same, while saying that finer details will be worked out later.

“As a thumb rule for each gigawatt-hour capacity cell, the plant will cost about Rs 700 crore and one gigawatt plant is very small and will be uneconomical,” he said when asked about the plant capacity if the company decides to foray into the backward integration for lithium ion batteries.

The company has set up Exide Leclanche Energy, a JV with Swiss firm Lechlance, to manufacture lithium-ion batteries in India. However, the existing facility does not manufacture lithium-ion cells and it is more of an assembly unit. The company has so far invested Rs 232 crore in the Gujarat project.

The plant will be fully operative by end of the fiscal. However, it will make only modules and the final battery pack but not the cell.

Chakraborty said the company seeks to make a balance between existing lead acid batteries and products of the future.

“By end of this fiscal, we shall take a call on the lithium-ion cell unit,” Chakraborty said. He has also not ruled out the possibility of forming a JV with a foreign partner, which has technical know-how. He also indicated that huge investment is required for such projects.

“The ballpark figure for such a project is $100 million per gigawatt hour. We can say 1 GwH is not a viable project so one can understand the investment,” he added.

Exide is targeting to build battery energy storage system for renewable power plants and it is carrying out two trials – one at CESC with lead acid battery and the other at Tata Power with lithium battery technology.

“Battery energy storage will be big market with renewable energy boom,” Chakraborty said.

The city-based battery maker is also focusing on exports in a big way to de-risk business of lead-acid battery.

“Exports is now seven per cent and we aim for strong growth in this segment,” Chakraborty said.

- Advertisement -

Most Popular Articles

EKA Mobility Aims To Triple Its Capacity

0
As part of its expansion strategy, EKA Mobility is constructing a third plant in Pithampur, Madhya Pradesh, which will produce both electric buses and...
V-BAT Drones

JSW Defence Partners USA’s Shield AI To Produce V-BAT Drones In India

0
The partnerships will leverage India's engineering talent and transitioning towards more cost-effective unmanned systems JSW Defence Pvt. Ltd., a subsidiary of the $24 billion JSW...

VinFast Discusses JV With Adani Group, Megha Engg

0
An informed source mentioned that VinFast, currently establishing a factory in Tamil Nadu, has started discussions with two companies aiming to secure some of...

Tata Elxsi, DENSO, AAtek Open Robotics Lab In Frankfurt

0
The laboratory situated in Tata Elxsi's Frankfurt office will function as a centre for research and development. It will showcase demonstrations of modular automation...

Ravvi Dhyani Joins ADATA To Boost India Presence

0
Planning growth in India with exciting new products and a strong market push for 2025 expansion, ADATA names Ravvi Dhyani as Country Manager. Memory...
Abhishek Malik from Calcom Vision Limited

“India’s Electronics Sector Is Growing Rapidly, Making This The Decade For Investors To Engage”...

0
From the complexities of manufacturing and sourcing components to testing processes that drive innovation, know all the exciting dynamics shaping this ever-evolving industry in...
Sunit Kapur, CEO of Epsilon

“Epsilon Leads With Low-Carbon Graphite Manufacturing, Outpaces Chinese Competitors” – Sunit Kapur, CEO of...

0
Are LFP cathodes and silicon-graphite anodes the best for cost efficiency in EV batteries? Sunit Kapur, CEO of Epsilon Advanced Materials, discusses this with...
John W. Mitchell, President and CEO, IPC

“India’s Core Focus On 5G, IoT, AI Fosters Need For Advanced Electronics,Components, And Semiconductors”...

0
Will Industry 4.0 supercharge India’s progress in semiconductor and electronics manufacturing? IPC President and CEO John W. Mitchell shared more strategies on the country’s...
Raman M., Co-Founder and CEO, chargeMOD

“Our Goal Is To Achieve Complete Sustainability By 2025-2026” – Raman M. Of chargeMOD

0
In a conversation with Nitisha Dubey from EFY, Raman M. of chargeMOD, elaborated his goal of developing virtual power plants by decentralising power production. Q....

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Applied Materials Representational Image

Applied Materials Selects Six Startups For Deep-Tech Accelerator Programme

0
The selected deep-tech startups will be evaluated for investment by Applied Ventures and potential collaboration opportunities with Applied Materials. In collaboration with the company's India...

Space tech Startup Akash Secures $68M CHIPS Funding

0
Eyeing to power into AI, EVs, and more high-tech industries, Akash Systems lands $68 million CHIPS grant to boost its cooling tech facility, generating...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Industry's Buzz

Learn From Leaders

Startups