Eyeing India’s electric vehicle (EV) market and grid-based applications, Exide had formed a joint venture with Switzerland-based Leclanché SA, one of the world’s leading energy storage solution companies, in June last year.
The JV was formed between Exide and Leclanché in a 75:25 ratio. It is planning to start production of lithium-ion batteries from its joint venture plant in Gujarat by the end of this calendar year.
The JV company’s production plant in Gujarat is the first such indigenous facility in the country for manufacturing lithium-ion batteries and provide energy storage systems for the EV market.
Around ‘100 crore has already been invested and another`100 crore will be pumped in within March next year.
At the plant level Exide is planning three different assembly lines for three different types of products. The JV company will specifically target e-transport and fleet vehicles, including e-buses, e-wheelers and e-rickshaws.
Reference- Exide PR, Financial Express