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Exide Industries has invested ₹80 crore in a lithium-ion cell plant in Bengaluru.
The Kolkata-based company manufacturers and sells lead acid storage batteries required in sectors like telecom, infrastructure, and railways. The company also provides end-to-end services of installation, operation, and maintenance.
The deets: the company is making an investment in its wholly owned subsidiary Exide Energy Solutions Limited as equity share capital. This will take the company’s total investment in EESL to ₹3,882.23 crore.
Why this matters: lithium-ion batteries power most of the electric vehicles and consumer electronics today. They are crucial for India’s decarbonisation goals and will help the country reach its net zero target by 2070.
Investments like these will help India achieve the projected capacity of 150 Gwh by 2030 and help India take the centre stage in the global EV market.
Big theme: India’s lithium-ion battery market is gearing up for explosive growth. Valued at around $3.2 billion in 2024, it could touch $9.5 billion by 2033, with annual demand rising from just 10.8 GWh in 2022 to 160+ GWh by 2030.
The government is pushing localisation with incentives, while players like IOC–Panasonic, Exide, and even auto majors like Ashok Leyland (via CALB) are setting up plants and joint ventures.
A new advanced battery unit in Haryana is already positioned to cover 40% of domestic demand. With China, Korea, and Japan far ahead, India has catching up to do. But if it gets this right, the country could slash imports, power its EV and clean energy boom, and even emerge as a global battery hub.
