Exide industries: Assumed Li-ion Battery Business Shines with Rs1700 Crore Revenue - Ken Research

Exide Industries, a prominent player in the storage battery market, confidently asserts its substantial lead over competitors in the lithium-ion battery business. To solidify its position, the company established a wholly-owned subsidiary called Exide Energy Solutions in 2022, anticipated to commence operations by the end of FY25, the cell manufacturing factory represents a significant investment of ~Rs4000 crore in its initial phase.

The current order book for the Exide industries module and pack making facility amounts to ~600-700 crore. These orders are expected to be fulfilled within the next 12-15 months. The company is geared up to execute these orders efficiently, ensuring timely delivery and meeting customer requirements.

1. Joint Venture: A Game-Changing Move?

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In a strategic move to enter the lithium-ion battery systems and energy solutions sector and tap into India's electric vehicle market, the company established a joint venture with Leclanché SA, headquartered in Switzerland. The joint venture has come into market in June 2018, the joint venture has been actively involved in manufacturing lithium-ion battery modules and packs in Gujarat. Nexcharge has so far invested INR~2.5 Bn in building and setting up the plant which has also have cell testing lab.

2. Will Exide Industries Benefit from Governmental Reforms?

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The Central Government recently approved a PLI scheme on such batteries. The scheme outlay of Rs 18,100 crore is intended to establish 50 Giga Watt Hour (GWh) of advanced cell chemistry and 5 GWh of niche advanced cell chemistry. Exide is currently rising the game by setting-up a green-field multi-gigawatt lithium-ion cell manufacturing unit in Karnataka. The total estimated cost for the project is INR 6000 Cr.

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Ken Research

Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.