Exide Energy Solutions to set up Li-ion battery cell manufacturing facility in Bengaluru

Exide Industries said on Wednesday that its subsidiary has signed a sales agreement in Bengaluru to set up a lithium-ion battery manufacturing facility. Exide Energy (EESL) has executed the lease-cum-sale agreement with Karnataka Industrial Areas Development Board (KIADB) for the purchase of a plot of land in Bengaluru, the company said in a regulatory filing. The plant would be used to set up a multi-gigawatt Li-ion battery cell manufacturing facility for India’s new-age electric mobility and stationary application companies, it added.

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