- The company will begin assembling lithium-ion batteries from imported cells of China in December
- It will make batteries for several applications including electric vehicles depending on demand
- Exide had announced a joint venture with Switzerland-based Leclanché SA, one of the world’s leading energy storage solution companies, in June last year
A top company official told PTI that Exide Industries will start assembling lithium-ion batteries from December.
Gautam Chatterjee, MD & CEO of Exide industries told the news daily that the company will begin assembling lithium-ion batteries from imported cells of China in December this year. It will make batteries for several applications including electric vehicles depending on demand.
JV with Leclanche
Exide had announced a joint venture with Switzerland-based Leclanché SA, one of the world’s leading energy storage solution companies, in June last year. The JV was formed between the two companies in a 75:25 ratio.
The JV company’s production plant in Gujarat is the first such indigenous facility in the country for manufacturing lithium-ion batteries and provide energy storage systems for the EV market.
According to a report by Adroit Market Research, the global lithium-ion battery market size is estimated to touch nearly USD 105.0 billion by 2025, owing to the increasing demand for consumer electronics and electric vehicles.
Automotive sector in focus
The automotive segment is anticipated to be the fastest-growing segment in the coming years. The fast-paced development of the electric vehicles sector is the key reason behind the growing usage of lithium-ion batteries in the automotive industry.
