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Exide Industries to foray into lithium-ion battery manufacturing

Wednesday, 01 Sep 2021
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Exide Industries is evaluating to foray into manufacturing advance cell chemistry batteries, commonly referred to as lithium-ion batteries. The company is waiting for the productivity linked incentive (PLI) details to come out.

The Centre recently approved a PLI scheme on such batteries. The scheme outlay of Rs 18,100 crore is intended to establish 50 GWh advanced cell chemistry and five GWh niche advanced cell chemistry.

The plant will cost about Rs 700 crore and one GW plant is very small and will be uneconomical.

The company has set up Exide Leclanche Energy, a JV with Swiss firm Lechlance, to manufacture lithium-ion batteries in India. The COVID-19 pandemic has delayed completion of the 1.5 GB capacity plant.

The plant will be fully operative by the end of FY21. However, it will make only modules and the final battery pack but not the cell.

Exide is targeting to build battery energy storage system for renewable power plants and it is carrying out two trials -- one at CESC with lead acid battery and the other at Tata Power with lithium battery technology.

The battery maker is also focusing on exports in a big way to de-risk business of lead acid battery. Meanwhile, the company will continue to maintain annual capex of Rs 400 crore.

 
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