January 5, 2023: India’s Exide Industries said on January 4 it had changed the name of a lithium-focused subsidiary company set up under an initial joint venture with Swiss battery firm Leclanché.
Exide said the now wholly-owned Exide Leclanche Energy Private Limited, branded as ‘Nexcharge’, has been renamed Exide Energy Private Limited.
The move follows Exide’s announcement on December 12 that it was considering proposals to merge the unit with another wholly-owned lithium subsidiary — Exide Energy Solutions (EES) — that was formed to collaborate with China’s SVOLT Energy Technology to manufacture lithium ion battery cells in India.
Construction of the EES gigafactory in Bengaluru formally began on September 27.
Exide CEO and MD Subir Chakraborty (pictured, inset) said on November 16 the development and sale of lead batteries continued to be the company’s “core business”, despite its foray into the lithium ion sector.