India’s largest automotive battery maker, Exide Industries, has decided to set up a multi-gigawatt lithium-ion cell manufacturing plant. It also plans to apply for the Ministry of Heavy Industries’ production-linked incentive scheme ‘National Programme on Advanced Chemistry Cell (ACC) Battery Storage’.
“Exide Industries, at its board meeting held today, has decided to set up a multi-gigawatt lithium-ion cell manufacturing plant,” the company said in a press statement.
Lithium prices likely to rise next year, too
According to Subir Chakraborty, MD and CEO, electric vehicle penetration in India is expected to become a reality in the near future.
“The government is pushing electric vehicle manufacturing through a supportive policy framework and by providing incentives to the manufacturers in this space. As a result, lithium-ion battery-based storage solutions will gain prominence, for both automotive and industrial applications,” he said in the statement.
The company has a factory (in a joint venture with Leclanche SA, Switzerland) with automated lithium-ion assembly lines for battery packs and modules. Production is on and the company plans to offer energy solutions that are scalable and eco-friendly.
“We have now planned to set up a multi-gigawatt lithium-ion cell manufacturing plant and to participate in the PLI scheme for Advanced Chemistry Cell manufacturing as proposed by the government. Cell manufacturing is an integral part of the lithium-ion battery manufacturing chain, and we believe that the setting up of this plant will enable us to be more cost-competitive and better serve our esteemed customers,” the release said.
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