Exide Industries, a leading storage battery manufacturer, is set to intensify its focus on product innovation and global expansion to grow its export share.

Exide’s strategy is to diversify geographically to reduce reliance on a few markets.At the company’s 78th Annual General Meeting, MD & CEO Avik Roy said, “We have come out with a lot of innovative products targeted for exports which we have never done in the past.”

A major component of Exide’s growth strategy is its lithium-ion cell manufacturing project in Bengaluru, where the company has already invested Rs 3,700 crore. The CEO announced an additional investment of Rs 600–700 crore this financial year to meet the requirements for Phase I of the six GWh factory, with trial production expected by the end of FY25.

Exide will monitor the utilisation of this plant before launching Phase II, aligning expansion with global demand for advanced battery technologies.