Exide Industries has taken another major step toward strengthening India’s EV battery ecosystem. Continuing its aggressive push into clean mobility, the company recently announced that Exide Industries pumps Rs 450 crore into its EV arm, Exide Energy Solutions Ltd. (EESL), marking a crucial milestone as its upcoming Bengaluru gigafactory enters the final commissioning stage.
A Strategic Investment for India’s Battery Future
The latest infusion—executed through the allotment of 11.25 crore equity shares at ₹40 per share via a rights issue—pushes Exide’s total commitment to its EV subsidiary to ₹4,802 crore. With this move, the company retains full 100% ownership while gearing up for the transition from construction to commercial execution. This marks the second time Exide Industries has pumped ₹450 crore into its EV arm, reaffirming its long-term vision for EV cell manufacturing in India.
Bengaluru Gigafactory: Entering the Final Stretch
The state-of-the-art lithium-ion gigafactory in Bengaluru is now in its last phase of equipment calibration, trial runs, and working capital preparation. Exide is targeting commercial production in the first half of FY26.
Phase 1 of the plant will offer 6 GWh annual capacity, eventually scaling to 12 GWh. The facility will produce high-performance NMC cells for premium EVs and LFP prismatic cells for mass-market EVs and stationary energy storage. As Exide Industries pumps Rs 450 crore into its EV arm, it is also advancing talks with two leading and three-wheeler OEMs to secure supply agreements.
Financial Challenges and Long-Term Strategy
Despite reporting a net loss of ₹209.12 crore in FY25 due to heavy initial capex, EESL achieved a turnover of ₹116.89 crore. The gigafactory plays a central role in reducing India’s battery import dependence and competing with rising giants like Reliance New Energy and Ola Electric. As Exide Industries pumps Rs 450 crore into its EV arm once again, the company underscores its commitment to powering India’s electric future.
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