Exide Energy secured $85.3 million of orders for lithium-ion battery packs, modules in fiscal 2022-23

Indian lead-acid battery major Exide Industries Ltd said its arm Exide Energy secured orders worth around INR 700 crore ($85.3 million) for lithium-ion packs and modules during the year 2022-23. The company said this order book would be executed in the next 12-15 months for two-wheeler, three-wheeler, commercial vehicle and telecom sector OEMs. 

Incorporated in 2018 as a joint venture with Leclanché SA, Exide Energy (Nexcharge) develops lithion-ion modules and packs with battery management systems for electric vehicles and stationary applications. It has a manufacturing capacity of 1.5 GWh.

Exide said its lithium-ion cell manufacturing arm Exide Energy Solutions has already made a head-start in setting up a single-site, 12 GWh lithium-ion cell manufacturing factory in Karnataka. It expects the first-phase 6 GWh capacity of the cell factory to start commercial production by the end of next year.

Exide Energy Solutions has entered into a multi-year technical collaboration agreement with SVOLT Energy Technology, a China-based company specializing in the development and manufacturing of lithium-ion batteries and storage solutions for multiple applications. 

As part of the agreement, Exide Energy Solutions has been granted rights to use and commercialize SVOLT’s technology and know-how for lithium-ion cell manufacturing. Additionally, SVOLT is assisting Exide in setting up an end-to-end production process including upstream supply chain, manufacturing plant and equipment, quality processes, and so on, on a turnkey basis.

Exide Energy Solutions will manufacture cylindrical, pouch, and prismatic lithium-ion cells for both mobility and stationary applications.

“Our giga-level factory in the lithium-ion space will give Exide a significant first-mover advantage. By offering domestically manufactured products and solutions, we lower the working capital requirement associated with battery imports, which is a common challenge for OEMs,” said Subir Chakraborty, managing director and CEO of Exide Industries Ltd.

“Our collaboration with SVOLT ensures a streamlined supply chain for raw materials and with their team of 300 to 400 experts, we can expedite the plant operations.”