Lead-acid battery maker Exide Industries Ltd is focusing on innovations for emerging applications like hybrid and electric vehicles (EVs), the firm confirmed on said on September 15, 2020. A lithium-ion JV has been formed and is well placed with an assembly line having a capacity of 1.5 GWh, it said.
“The company is developing advanced solutions in the lead-acid space for emerging applications, including hybrid vehicles and EVs,” MD & CEO Gautam Chatterjee told shareholders at the annual general meeting. He also spoke about introducing ‘ultra-batteries’ and other solutions in the energy storage space and the lithium chemistry domain.
Chatterjee said with declining upfront costs and gradual improvement in technology, higher production of electrified vehicles is feasible now.
In August, we had reported that the firm was planning to start the manufacturing of lithium-ion (Li-Ion) batteries from its joint venture plant in Gujarat by end of this calendar year.
With the aim of entering India’s electric vehicles (EV) market and grid-based applications, Exide had formed a 75:25 joint venture with Switzerland-based Leclanché SA, one of the world’s leading energy storage solutions companies, in June last year. The JV company’s production plant in Gujarat is the first such indigenous facility in the country for manufacturing lithium-ion batteries and provide energy storage systems for the EV market, with the government’s push towards promoting electric mobility.
As reported, the key area of focus for the venture will be e-transport, stationary energy storage systems, and specialty storage markets. In e-transport, which is the primary target segment, the venture will work on a fleet of vehicles including electric buses, electric two-wheelers and electric rickshaws.
“It is inevitable that electric vehicles will come into India. Whether it will be three years or five years or ten years down the line, that can be debated. But we, as a company, want to be fully prepared to address this opportunity,” Chatterjee had said.