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Exide Industries invests ₹100 crore in Exide Energy Solutions for its lithium-ion battery plant in Bengaluru, raising its total investment to ₹2,852 crore. The company aims to strengthen its position in India’s EV and energy storage markets. Exide share price almost doubled in the past 12 months.
Exide Industries Limited has announced a ₹100-crore investment in its wholly-owned subsidiary, Exide Energy Solutions Ltd (EESL). This fresh infusion aims to accelerate the construction of a state-of-the-art greenfield facility in Bengaluru, focusing on the production of lithium-ion battery cells, modules, and packs.
The facility will cater to India's booming electric vehicle (EV) and stationary energy storage markets. Investors will keep an eye on the Exide share price today.
This latest capital infusion, raised through a rights issue, brings Exide's total investment in EESL to ₹2,852 crore. This is the second ₹100-crore investment in recent months, reflecting Exide’s commitment to strengthening its presence in the EV ecosystem.
The move is part of a broader strategy to shift from lead-acid batteries to advanced lithium-ion technology, ensuring Exide’s leadership in the future energy market.
Incorporated in March 2022, EESL has shown impressive growth, reporting a turnover of ₹239.14 crore for fiscal 2024, more than doubling its previous year’s revenue of ₹112.05 crore.
The subsidiary gained significant attention when Hyundai Motor Company and Kia Corporation partnered with Exide Energy in April 2024 to localise EV battery production in India. This collaboration solidified EESL’s role in India's evolving EV landscape.
Once operational, the new Bengaluru facility will cater not only to the fast-growing EV market but also to the rising demand for stationary energy storage solutions. These solutions will be critical as India accelerates its adoption of renewable energy sources. This strategic positioning highlights Exide's transition towards future-ready energy solutions.
For the June quarter, Exide Industries posted strong financial results with a net profit of ₹280 crore on revenues of ₹4,313 crore. On the stock front, Exide share price closed at ₹513 on Thursday, marking a 1.22% decline for the day. However, over the past year, the stock has delivered an impressive 95.06% return, nearly doubling investors' wealth.
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