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Exide Industries performs bhoomi poojan for lithium-ion cell facility

Wednesday, 28 Sep 2022
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Exide Industries has performed bhoomi poojan ceremony for its first lithium-ion cell manufacturing facility on 27 September 2022, at the Hi-Tech Defense & Aerospace park Phase-2, Bengaluru.

The event marked the formal start of construction of one of multi-gigawatt hour lithium- ion cell manufacturing facility.

The grand ceremony was graced by Honourable Chief Minister of Karnataka, Shri Basvaraj Bommai and Honourable Minister for IT, BT, Higher Education & Skill Development Shri Dr. C.N. Ashwath Narayan along with other key government representatives & stakeholders, in the presence of the senior management team of Exide Industries.

Exide’s proposed Giga Factory will be spread over 80 acre of land and will be producing technology leading lithium-ion batteries to suit varied EV & Industrial segment requirements. Keeping this objective in mind, Exide has entered into a multi-year technical collaboration agreement with SVOLT Energy Technology Co. (SVOLT), a global technology company that makes and develops lithium-ion batteries and battery systems for EVs as well as for energy storage.

In addition to technology, SVOLT will provide support for setting up the plant on a turnkey basis. Moreover, Exide will also set up a state-of-the-art R&D lab and pilot line to support new product development for the Indian market.

The project is to be carried out in two phases and the first phase of the facility is expected to be operational by the end of 2024.

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