Exide Industries, a leading Indian battery manufacturer and energy storage solutions provider, in an exchange filling after its board meeting has made an announcement of its plan to set up a multi-gigawatt lithium-ion cell manufacturing plant.
The company is planning this greenfield plant keeping in view the increasing demand of Electric Vehicles in India. Exide Industries MD & CEO, Mr. Subir Chakraborty said in the company’s press release “Electric Vehicle penetration in India is expected to become a reality in the near future. As a result, Lithium-ion battery-based storage solutions will gain prominence, for both Automotive and Industrial applications“.
With this proposed Li-ion Cell manufacturing project Excide plans to participate in the PLI scheme of the Ministry of Heavy Industries’ for manufacturing Advanced Chemistry Cell (ACC) in India.