Exide Industries, India’s leading battery manufacturer, has invested ₹100 crore in its electric vehicle (EV) battery subsidiary, Exide Energy Private Limited. This investment is part of the company’s strategy to strengthen its presence in the growing EV market in India.
Exide Industries has been at the forefront of battery manufacturing in India for over 70 years. With the increasing demand for EVs, the company has been investing heavily in research and development to create cutting-edge battery technologies.
According to a statement by Exide Industries, the investment in Exide Energy Private Limited will be used to enhance the company’s capabilities in designing, developing, and manufacturing advanced lithium-ion batteries for EVs. The Indian government has set ambitious targets to promote the adoption of EVs, with the aim of achieving 30% electric vehicle penetration by 2030. To support this vision, the government has introduced several incentives, including subsidies for EV manufacturers and buyers.
Exide Industries is well-positioned to capitalize on the growing demand for EV batteries in India. The company has already established partnerships with several leading EV manufacturers in India, including Tata Motors and Mahindra & Mahindra. With this investment, Exide Industries aims to further strengthen its position in the EV battery market and contribute to the growth of the Indian EV ecosystem.
According to Gautam Chatterjee, Managing Director of Exide Industries, “Our investment in Exide Energy Private Limited demonstrates our commitment to supporting the growth of the EV market in India. We believe that our advanced lithium-ion battery technologies will play a critical role in enabling the widespread adoption of EVs in the country.”
Exide Industries’ investment in its EV battery subsidiary is a significant step forward in the company’s strategy to become a leading player in the Indian EV market. The company is a leading manufacturer of lead-acid batteries and energy storage solutions in India, with a strong presence in both the automotive and industrial sectors. Established in 1947, the company has built a reputation for producing high-quality batteries for a variety of applications, including automobiles, motorcycles, UPS systems, and telecom equipment.
Exide also plays a significant role in the growing electric vehicle (EV) market, and is actively expanding its operations in lithium-ion battery production. Through its subsidiary, Exide Energy Solutions Ltd., the company is developing a gigafactory for lithium-ion cells in Bengaluru, with plans to scale up production for both mobility and stationary applications. With a focus on sustainability and innovation, Exide continues to lead the battery industry in India, while supporting the country’s shift toward renewable energy and clean transportation.
