Exide Industries has incorporated a wholly-owned subsidiary, Exide Energy Solutions. The company will set up a greenfield a multi-GW lithium-ion cell manufacturing facility in India.
The company has been incorporated with an initial authorised and paid-up equity share capital of Rs 1,00,000.
The main object of the Exide Energy Solutions is to carry on the business of manufacturing battery cells of advanced chemistry and form factor, including but not limited to cylindrical, pouch, prismatic, as well as manufacturing, assembling, selling battery modules, battery packs and other related activities thereto.