August 1, 2025: Exide Industries has outlined plans to invest more than Rs1,000 crore ($116 million) across its lead acid and lithium battery manufacturing businesses in the current 2026 financial year.

The Indian manufacturer also expects to start commercial operation of its lithium ion battery cell manufacturing plant in Karnataka state within the same period.
Exide CEO and MD Avik Roy told the company’s online annual general meeting on July 26 on that it had already invested nearly Rs4,000 crore in the first phase of the Karnataka project, through its Exide Energy Solutions (EESL) subsidiary.

He said a further Rs600-Rs700 crore was likely to be invested in the lithium project in the current financial year.

But Roy stressed that its development of the lithium business was being made “alongside the continued strength of our lead acid battery business”.

Exide reported “double-digit growth” in its industrial UPS and VRLA battery business thanks to new product launches.

Meanwhile, the company continued to modernize production processes in areas such as punched grid, continuous casting, and for AGM batteries for start-stop and four-wheelers.
Batteries International reported last October that EES’ activities included a collaboration deal with China’s SVOLT Energy.

The partners are building the lithium cells plant on an 80-acre site in Karnataka.

Arun Mittal stepped down as the CEO and joint MD of EESL last October for personal reasons and was succeeded by fellow joint MD Mandar V Deo.