Exide Industries may foray into lithium-ion battery manufacturing

The country’s largest lead acid battery maker, Exide Industries Ltd, on Tuesday said it is evaluating foray into manufacturing Advance Cell Chemistry batteries, commonly referred to as lithium-ion batteries.

To take a final call, the company is waiting for the Productivity Linked Incentive (PLI) details to come.

The Centre recently approved a PLI scheme on such batteries. The scheme outlay of Rs 18,100 crore is intended to establish 50 Giga Watt Hour (GWh) of advanced cell chemistry and 5 GWh of niche advanced cell chemistry.

We are evaluating installing Advance Cell Chemistry Project. We are waiting for the PLI details as it will act as a sweetner…. It entails huge capex.