[ad_1]
The company had ventured into a joint venture with Leclanché SA back in 2018. The purpose of the JV was to set up EV battery assembly operations in India. Over the next few years, Exide Industries gradually kept increasing its stake and now owns 100% of this venture.
The current capacity is 1.5 GWH and has an order book of Rs. 600–700 crore.
In December 2021, Exide Industries announced a technical collaboration with China’s SVOLT Energy Tech with a capex outlay of Rs 6,000 crore to establish a lithium-ion cell manufacturing plant in the country.
The total capacity of the plant was envisaged at 12 GWH, with the first phase being 6 GWH. As per the company, the first phase is scheduled to be operational in 2025 at a capex outlay of Rs. 4,000 crore. This is now estimated to be done by March 2025.
Till date, the company has invested close to Rs 2,000 crore, which would entail the rest of the investments earmarked in phase one to be done starting in April 2024.