Exide Industries, at its board meeting held recently, has decided to set up a multi-gigawatt lithium-ion cell manufacturing plant. It also plans to apply for and participate in the Production-Linked Incentive (PLI) Scheme for National Programme on Advanced Chemistry Cell (ACC) battery Storage, issued by the Ministry of Heavy Industries.
With the evaluation of the next steps, the company shall be sharing more details on the above as it further develops its plans.
The company already has a state-of-the-art 1.5 GWh lithium battery assembly unit in Gujarat, set up in a joint venture (Nexcharge) with Swiss energy storage solutions company Leclanche. The plant is equipped with fully automated lithium-ion assembly lines for battery packs and modules. It has already started production and shall be offering energy solutions that are scalable and eco-friendly.
Cost advantage
Batteries dominate the overall cost of electric vehicles (EVs). By expanding downstream to include lithium-ion cell manufacturing, India has the opportunity to lower battery costs and develop batteries suited to Indian conditions.
According to a CEEW Centre for Energy Finance (CEEW-CEF) report, the battery pack contributes 35-50% of the overall EV cost. Breaking down the battery pack, lithium-ion cells form approximately 60% of that cost. The report said India could bring the cost of lithium-ion cells down by 25–30% through appropriate policy measures.
Commenting on the new development, Subir Chakraborty, managing director and chief executive officer, said, “We have now planned to setup a multi-gigawatt lithium-ion cell manufacturing plant and to participate in the Production-Linked Incentive Scheme for Advanced Chemistry Cell manufacturing as proposed by Government of India. Cell manufacturing is an integral part of the Lithium-ion battery manufacturing chain, and we believe that the setting up of this plant will enable us to be more cost-competitive and better serve our esteemed customers.”
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There is a big opportunity for Indian companies to invest in Australia to develop the supply chain for Lithium battery materials. China is doing just that. The favourable trade relations between India and Australia can be a big advantage.