Exide Industries has infused ₹450 crore into its EV battery subsidiary, Exide Energy Solutions Ltd, as its Bengaluru gigafactory approaches commissioning. With this latest investment, Exide’s total commitment to the project stands at ₹4,802 crore, paving the way for commercial production in the first half of FY26.
Exide’s strategic move highlights pivot toward advanced lithium-ion technologies, positioning the company as a key player in India’s fast-growing electric vehicle ecosystem. The Bengaluru gigafactory is expected to play a crucial role in meeting domestic demand for localized battery production.
Investment Overview
The ₹450 crore infusion was made via a rights issue, ensuring Exide’s full ownership of its EV battery arm. Funds will support commissioning activities, including equipment calibration, trial runs, and working capital requirements.
Gigafactory Details
The Bengaluru facility has an initial capacity of 6 GWh annually. It will manufacture NMC (Nickel Manganese Cobalt) cells for high-performance EVs and LFP (Lithium Iron Phosphate) cells for mass-market EVs and energy storage solutions.
Strategic Significance
Exide is leveraging strong cash flows from its lead-acid battery business to fund this transition. Partnerships with Hyundai, Kia, and domestic EV manufacturers are expected to strengthen India’s EV supply chain and accelerate clean mobility adoption.
Key Highlights
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Exide invests ₹450 crore in EV battery arm
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Total commitment reaches ₹4,802 crore
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Bengaluru gigafactory to begin production in FY26
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Initial capacity of 6 GWh annually
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NMC and LFP cells to power EVs and storage solutions
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Strategic partnerships with Hyundai, Kia, and Indian EV makers
Sources: Business Standard, Moneycontrol, The Hindu BusinessLine