Exide is in advanced discussions for finalising the location to set-up its new facility to manufacture lithium-ion cells in India.
Leading Indian battery manufacturer Exide Industries has entered into a long-term technical collaboration with China's SVOLT Energy Technology for lithium-ion cell manufacturing in the country.
As per the understanding, SVOLT will grant Exide an 'irrevocable right and license to use, exploit and commercialise necessary technology and know-how owned by them (SVOLT) for lithium-ion cell manufacturing in India. In addition, SVOLT will also provide the support required for setting up of a state-of-the art green field manufacturing plant on a turnkey basis.
Exide says it is in the process of forming a Special Purpose Vehicle (SPV) by way of a wholly-owned subsidiary for carrying out the lithium-ion cell manufacturing business. It is in a advanced stage of discussions for finalising the location for the new facility.
It maybe recollected that Exide had participated in the Production-Linked Incentives (PLI) Scheme for National Programme on Advanced Chemistry Cell (ACC) Battery Storage, issued by the Ministry of Heavy Industries.
Subir Chakraborty, MD and CEO, Exide said: "With SVOLT‘s strong technical expertise, R&D capabilities and rich experience in manufacturing lithium-ion batteries, Exide plans to set-up a multi-gigawatt lithium-ion cell manufacturing facility. Spread out across two popular cell chemistries and three cell formats, this unit shall be uniquely placed to cater to the diverse requirements of customers in India."
The strategic partnership will target energy storage solutions for automotive and industrial applications.
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