Exide to start assembling lithium-ion batteries from December1 min read . Updated: 16 Oct 2019, 07:55 PM IST
- Exide CEO Gautam Chatterjee said the firm will begin assembling lithium-ion batteries from imported cells of China in December this year
- Exide had formed a JV with Switzerland-based Leclanch SA, one of the world's leading energy storage solution companies, in June last year
Kolkata: Eyeing at the country's electric vehicle (EV) market and grid-based applications, Exide Industries Ltd will start assembling lithium-ion batteries from December, a top company official said on Wednesday.
Country's largest lead acid battery maker had formed a joint venture (JV) with Switzerland-based Leclanch SA, one of the world's leading energy storage solution companies, in June last year.
The JV was formed between Exide and Leclanch in a 75:25 ratio.
"We will begin assembling lithium-ion batteries from imported cells of China in December this year. We will make batteries for several applications including electric vehicles depending on demand," Exide MD & CEO Gautam Chatterjee said.
The JV plant in Gujarat is the first such an indigenous facility in the country for manufacturing of lithium-ion batteries and provide energy storage solution for the electric vehicles.
Previously, the company had said it invested around ₹100 crore in the project and another ₹100 crore would be pumped in later.
Despite foraying into future technologies, there is no major threat for lead-acid batteries for next 10-15 years given the affordability factor, Chatterjee said.
Lithuim-ion batteries are at least four times more expensive than that of lead-acid.
Meanwhile, with a push from the Centre, it was estimated that 40% of cars sold in India could be electric in 2030, a study report said.