Exide Energy gets $85M orders for li-ion batteries in 2022-23
A big company in India that makes batteries from lead and acid, called Exide Industries Ltd, said that its part called Exide Energy got many orders to make and sell batteries from lithium and iron.
These batteries are worth about 700 crore rupees ($85.3 million) and they will be used for different kinds of vehicles and phone towers in the next year or so.
Exide Energy (Nexcharge) was started in 2018 with another company called Leclanché SA. They make batteries from lithium and iron that can be used for electric vehicles and other things that need power. They can make 1.5 GWh of batteries.
Exide said that its part that makes the cells for the batteries, called Exide Energy Solutions, has already begun to build a big factory in Karnataka that can make 12 GWh of cells. It hopes to start making 6 GWh of cells by the end of next year.
Exide Energy Solutions has also made a deal with SVOLT Energy Technology, a company from China that knows a lot about making batteries from lithium and iron. They will share their knowledge and help Exide to make the cells. They will also help Exide to get the materials and equipment they need.
Exide Energy Solutions will make different shapes and sizes of cells for different uses.
“Our giga-level factory in the lithium-ion space will give Exide a significant first-mover advantage. By offering domestically manufactured products and solutions, we lower the working capital requirement associated with battery imports, which is a common challenge for OEMs,” said Subir Chakraborty, managing director and CEO of Exide Industries Ltd.
“Our collaboration with SVOLT ensures a streamlined supply chain for raw materials and with their team of 300 to 400 experts, we can expedite the plant operations.”
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