Industrial battery maker Exide Industries is planning to invest Rs 6,000 crore in the next 8-10 years to establish a 12 gigawatt-hour lithium-ion cell manufacturing unit in Karnataka. As per the media reports, the first phase, with a capacity of 6 gigawatt-hour, is expected to be completed in 27-30 months.

The company’s MD and CEO, Subir Chakraborty, said that Exide Industries is a debt-free company with sufficient reserves. It looks at internal accruals to fund the project and some bridge loan facilities from banks whenever required.

The said facility is expected to be spread over 80 acres. For this, Exide has agreed with SVOLT Energy Technology Co Ltd (SVOLT), which develops lithium-ion batteries and battery systems for EVs and energy storage.
The country is noteworthy to be the leader in the lead-acid battery market. It has been trying to emerge as a big player in the Li-ion battery market. Nexcharge, one of Exide’s subsidiaries, develops lithium-ion battery packs and modules.
As per reports, the company expects annual revenue of Rs 10,000 crore- Rs 12,000 crore in the upcoming 8-10 years from the lithium-ion battery business.