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Exide Industries to Infuse INR 450 Crore into EV Battery Unit for Bengaluru Facility Expansion

Exide Industries Ltd. has announced a fresh investment of Rs 450 crore in its wholly owned subsidiary, Exide Energy Solutions Ltd., to accelerate the development of its lithium-ion battery manufacturing capabilities. The funding will support the company’s upcoming greenfield plant in Bengaluru.

The capital will be infused through a rights issue and is primarily aimed at establishing a facility to produce advanced battery cells, modules, and packs. These products will cater to both electric vehicle (EV) applications and stationary energy storage systems, aligning with India’s growing demand for clean energy technologies.

With this latest infusion, Exide’s total investment in EESL has risen to approximately Rs 4,802 crore, while maintaining full ownership of the subsidiary. The transaction has been carried out as a related party deal on an arm’s length basis and does not require regulatory approvals.

Founded in 2022, EESL is focused on building domestic capabilities in advanced chemistry cell manufacturing. The company is currently in a scale-up phase, with continued investments reflecting its ambition to play a key role in India’s rapidly expanding EV and energy storage ecosystem.