Strengthening India’s Electric Mobility and Energy Storage Future
Exide Industries has infused a fresh ₹100 crore into its wholly owned subsidiary, Exide Energy Solutions Ltd (EESL), to support the development of a major lithium-ion battery manufacturing facility in Bengaluru. This investment is part of Exide’s strategic expansion in the fast-growing electric vehicle (EV) and stationary energy storage markets in India, and marks a significant milestone in the country’s push for energy self-reliance.
About the Bengaluru Gigafactory Project
- The upcoming plant will have a planned capacity of 12 GWh of lithium-ion battery cells, designed primarily for EVs and energy storage systems.
- Phase 1 of the facility includes four production lines with a total capacity of 6 GWh, with trial production set to begin soon and commercial scale-up expected by the end of the financial year 2025-26.
- The plant spans an 80-acre site and focuses on manufacturing various battery formats, including cylindrical and prismatic cells utilizing NMC (Nickel Manganese Cobalt) and LFP (Lithium Iron Phosphate) chemistries.
- Exide is engaged in advanced discussions with leading two-wheeler and three-wheeler OEMs to supply high-performance battery cells.
Investment and Shareholding Details
- This latest capital infusion brings Exide’s total equity investment in EESL to over ₹3,700 crore, maintaining 100% ownership of the subsidiary.
- The funding was raised through a rights issue and allows EESL to meet its ongoing capital expenditure requirements for plant development and scaling operations.
- EESL was incorporated in March 2022 and has shown robust growth, with a turnover of ₹239.14 crore for FY24.
Driving Atmanirbhar Bharat and EV Ecosystem Growth
Exide’s Bengaluru plant is a critical step to strengthen India’s domestic battery supply chain and reduce reliance on imports. The company’s multi-chemistry, multi-format production approach safeguards against technological and market risks by enabling flexibility to cater to diverse vehicle segments and energy applications.
With government support accelerating EV adoption and renewable energy storage demand rising rapidly, this plant is positioned to play a foundational role in:
- Meeting the surging demand for electric two- and three-wheelers
- Providing battery solutions for stationary energy storage used in renewable installations and grid support
- Advancing India’s green manufacturing and energy transition goals
Exide Group’s Financial Strength and Market Impact
- Exide Industries recently posted a net profit of ₹280 crore in the June 2025 quarter on revenues of ₹4,313 crore.
- The company continues to leverage its legacy as a leader in lead-acid batteries while investing heavily in lithium-ion technology for future-forward energy systems.
- The Bengaluru gigafactory will complement Exide’s existing battery manufacturing infrastructure and innovation capabilities.
Exide Industries’ continued investment in EESL’s lithium-ion gigafactory reflects a clear vision to emerge as a dominant player in the electric mobility ecosystem while powering India’s transition to sustainable, clean energy solutions.
