Exide's Li-ion cell plant in Karnataka to be ready in 27-30 months
Lead-acid battery major Exide Industries on Thursday said the first phase of its 6Gwh lithium-ion battery plant in Karnataka will be ready in 27-30 months, and it has lined up Rs 3,800-4,000 crore investment to execute the project.
The project, spread over 80 acres, will expand to become a 12-Gwh (Gigawatt hour) capacity integrated lithium-ion battery facility involving a total investment of Rs 6,000 crore, and it will take 8-10 years to reach its peak capacity.
"The first phase of 6 Gwh capacity cell making facility including modules in Karnataka will be ready in 27-30 months and will require an investment of Rs 3,800-4,000 crore. Funding will in a combination of internal accruals and bridge loans. The total capex will be Rs 6,000 crore to reach the 12Gwh capacity," Exide managing director & CEO Subir Chakraborty said at a virtual interaction after the company's annual general meeting.
He said activities at the site have already started and the journey so far with SVOLT-- its ...