Home >Industry >Manufacturing >Exide forms JV with Switzerland’s Leclanche to make lithium-ion batteries
Exide recently acquired a mothballed battery factory in Gujarat. Photo: HT
Exide recently acquired a mothballed battery factory in Gujarat. Photo: HT

Exide forms JV with Switzerland’s Leclanche to make lithium-ion batteries

Exide-Leclanche JV will build a cell manufacturing facility in Gujarat, Swiss firm to provide risk capital to the tune of 25%

Kolkata: Automotive battery maker Exide Industries Ltd said in a regulatory filing late on Wednesday evening that it has signed an agreement to form a joint venture (JV) company with Switzerland’s Leclanche SA to manufacture lithium-ion batteries in India for electric vehicles.

Exide will own 75% in the JV, which will build a cell manufacturing facility in Gujarat. Exide recently acquired a mothballed battery factory in the state for an undisclosed price.

Apart from providing risk capital to the tune of 25%, Leclanche will also provide technology to the JV.

The production facility is expected to be ready by mid-2020, according to a statement by Exide. The partnership with Leclanche creates access to engineering resources to manufacture market-ready products, Exide’s chief executive officer Gautam Chatterjee was quoted as saying in the statement.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
×
My Reads Redeem a Gift Card Logout