September 12, 2024: The CEO and joint MD of Exide Industries’ lithium-based subsidiary in India, Arun Mittal, is to resign, the company announced on September 4.

Mittal is stepping down from Exide Energy Solutions (EESL) for personal reasons effective October 31. He will also cease to be director of the company.

He will be succeeded as CEO and MD by current joint MD Mandar V Deo, whose appointment takes effect on November 1.

EESL manufactures lithium ion cells, modules and battery packs and the subsidiary’s activities include a collaboration deal with China’s SVOLT Energy.

The partners are building a lithium ion battery cells manufacturing plant on an 80-acre site in Karnataka state — the first phase of which is scheduled to become operational by the end of this year.

SVOLT, in addition to providing the technology for the plant, is providing unspecified support for construction on a turnkey basis.