The country’s largest automotive battery maker, Exide Industries Ltd has entered into a multi-year technical collaboration agreement with SVOLT Energy Technology Co. Ltd (SVOLT) for technology and the necessary know-how for manufacturing lithium-ion cell in India.
As part of the agreement, SVOLT will grant Exide an irrevocable right and license to use, exploit and commercialise necessary technology and know-how owned by them for lithium-ion cell manufacturing in India. Additionally, SVOLT will also provide the support required for setting up of a state-of-the art green field manufacturing plant on a turnkey basis, said a press statement issued by the company.
Exide, which had recently received the board approval for setting up a multi-gigawatt lithium-ion cell manufacturing plant, is in the process of forming a Special Purpose Vehicle (SPV) by way of a wholly owned subsidiary for carrying out the manufacturing business. It is in a fairly advanced stage of discussions for finalising the land parcel for this facility.
The company has 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.
SVOLT, headquartered in Jiangsu province in China, is a global high-tech company and is engaged in the business of production and development of lithium-ion batteries and battery systems for electric vehicles as well as for energy storage. SVOLT’s comprehensive one-stop product portfolio includes battery materials, cells, modules, packs, and battery management systems as well as energy storage products. It is focusing on growing its global footprint and is expanding capacities to meet the increasing demand for battery applications.
Major step forward
According to Subir Chakraborty, MD & CEO, Exide, the collaboration with SVOLT is a major step forward in the company’s aspiration of becoming a leading player in the rapidly emerging new-age electric mobility and stationary application businesses in India.
“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. This strategic partnership is in line with Exide’s commitment to provide best-in-class batteries and energy storage solutions for automotive and industrial applications,” he said in the statement.
Exide has been adopting new technologies and has consistently evolved its manufacturing processes to provide the latest products and solutions to its customers. The company has already set up a state-of-the-art factory (in JV with Leclanche SA, Switzerland), which is equipped with fully automated lithium-ion assembly lines for battery packs and modules. The factory has already started production and would be offering energy solutions that are scalable and eco-friendly.