Construction of Exide Industries’ greenfield lithium-ion cell manufacturing project in Bengaluru is going on in full swing and commercial production of the first phase is expected by the end of next financial year (FY25).
This was stated by Subir Chakraborty, managing director (MD) and chief executive officer (CEO), during the company’s annual general meeting (AGM) on Tuesday.
The plant, with a capacity of 12 gigawatt hours (GWh), would be set up in phases.
The first phase of 6 GWh would entail an investment of about Rs 4,000 crore. The total project cost of Rs 6,000 crore would be met through internal accruals as well as bridge loans.
