Exide joins Chinese SVOLT to manufacture lithium-ion batteries in India

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SVOLT will also provide the support needed to set up a turnkey green field plant

Having concluded a long-term deal, Exide Industries is cooperating with the Chinese company SVOLT Energy Technology Co Ltd for the production of lithium-ion batteries in India.

Under the agreement, Exide will receive a non-refundable right and a license to use, operate and commercialize the necessary technologies and know-how owned by SVOLT for the production of lithium-ion cells in India. SVOLT will also provide the support needed to set up a turnkey green field plant.

Exide is in the process of forming a special purpose vehicle (SPV) as a subsidiary company that is wholly owned to carry out the said business for the production of lithium-ion elements.

“It is at a fairly advanced stage of discussing the completion of land for this object,” said Exid.

The company participated in the Production Incentive Scheme (PLI) for the National Advanced Chemistry Cell Accumulation Program (ACC).

“With extensive SVOLT technical experience, R&D capabilities and extensive experience in the production of lithium-ion batteries, Exide plans to set up a multi-gigawatt plant for the production of lithium-ion cells. Distributed across two popular cells and three cell formats, this device must be uniquely positioned to meet the diverse requirements of customers in India, ”said Exide MD and CEO Subir Chakrabarti.

Exide joins Chinese SVOLT to manufacture lithium-ion batteries in India

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