Exide Industries Ltd is set to introduce a new advanced Absorbent Glass Mat (AGM) battery for cars. This new battery is designed to give better starting power, last longer, and be more durable than standard lead-acid batteries.
Meeting New Car Needs
Many car makers are now using AGM batteries because they work well with features like regenerative braking, which saves energy. Exide says these AGM batteries will soon be a big part of the market, especially for passenger cars.
Collaboration and Launch
Exide is working with East Penn Manufacturing, USA, to make these new batteries. They will be available for both domestic and international markets soon.
Exide’s Growth
Exide earned over Rs 16,000 crore in 2023-24, with its automotive division making up 70% of its business. The company is also building a large factory in Karnataka to make lithium-ion batteries, in partnership with China-based SVOLT Energy Technology. South Korean car makers Hyundai and Kia are working with Exide to use these batteries in their future electric cars in India.
Exide Industries, a prominent player in the battery manufacturing sector, has been expanding its footprint with innovative products and strategic partnerships. Established as a leader in the automotive battery market, Exide is now venturing into advanced technologies like Absorbent Glass Mat (AGM) batteries, aimed at enhancing vehicle performance and durability. The company’s revenue crossed Rs 16,000 crore in the fiscal year 2023-24, with the automotive division contributing significantly.
