Exide Industries has announced plans to invest approximately ₹1,400 crore in the current fiscal year for the first phase of a greenfield lithium-ion cell manufacturing facility in Bengaluru.
The project, described as a multi-gigawatt-hour (GWh) plant, marks a significant strategic pivot for the traditional lead-acid battery leader as it seeks to establish a foothold in the rapidly expanding electric vehicle (EV) supply chain.
The investment underscores the intensifying competition among Indian battery manufacturers to secure domestic production capacity ahead of anticipated demand surges.
By committing substantial capital to a greenfield site, Exide aims to reduce reliance on imported cells and align with government incentives for local manufacturing.
The move positions the company to compete directly with established players and new entrants scaling up operations in the country.
This development arrives amid a broader wave of capital deployment in India's energy storage ecosystem.