Exide to invest Rs 6000 cr in lithium-ion factory

by: Sayantan Barua

Exide to invest Rs 6000 cr in lithium-ion factory

Exide to invest Rs 6000 cr in lithium-ion factory

by: Sayantan Barua

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TW Newsdesk, Sept 23: Automotive and industrial battery manufacturer Exide will invest Rs 6,000 crore in its lithium-ion factory over the upcoming 8-10 years. The company has taken 80 acres of land in Karnataka and is planning to build the plant with an aggregate capacity of 12GWh (gigawatt hour) in two phases.

Phase 1 of the project (6 GWh), which would incur most of the planned capital expenditure, is expected to be done in the upcoming 30 months. At the company’s 75th annual general meeting on September 22, Exide Industries managing director Subir Chakraborty stated that the company plans to grow its business in both lead acid as well as lithium-ion technologies.

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