Exide Industries, in a communication, said that it has decided to set up a multi-gigawatt lithium-ion cell manufacturing plant.
The in-principal approval to the above proposal was given at the company’s board meeting held on December 21, 2021.
The Kolkata-based company also plans to apply for and participate in the Production-Linked Incentive Scheme for National Programme on Advanced Chemistry Cell (ACC) battery storage, issued by the Ministry of Heavy Industries.
“With the evaluation of the next steps, the company shall be sharing more details on the above as it further develops its plans,” Exide Industries said in a stock exchange filing.
According to Subir Chakraborty, MD & CEO, Exide Industries, “We have now planned to set up a multi-gigawatt lithium-ion cell manufacturing plant and to participate in the Production-Linked Incentive Scheme for Advanced Chemistry Cell manufacturing as proposed by Government of India. Cell manufacturing is an integral part of the Lithium-ion battery manufacturing chain, and we believe that the setting up of this plant will enable us to be more cost-competitive and better serve our esteemed customers.’
Discussing the rationale behind this move, Chakraborty observed that electric vehicle penetration is expected to become a reality in the near future. The government is pushing electric vehicle manufacturing through a supportive policy framework and by providing incentives to the manufacturers in this space. As a result, lithium-ion battery-based storage solutions will gain prominence, for both automotive and industrial applications, the top official noted.
Li-ion battery systems
It may be noted that Exide has also forayed into Lithium-ion battery systems and energy solutions through its subsidiary Exide Leclanche Energy Pvt Ltd (under the brand Nexcharge), together with the JV partner Leclanche SA, Switzerland. With its state-of-the-art R&D centre, the subsidiary aims to build lithium-ion batteries and provide energy storage systems for India’s electric vehicle market and grid-based applications.
In March this year, Nexcharge in collaboration with Tata Power Delhi Distribution Ltd (TPDDL) inaugurated India’s first grid-connected Li-ion battery-based community energy storage system at Rani Bagh, Delhi. (Read full story)
Featured photograph (source: exideindustries.com) shows Exide Industries’ R&D Centre at Kolkata, West Bengal.
