Exide Industries funds a lithium-ion cell factory in Bengaluru with an investment of ₹80 crore.

On Thursday, September 25, battery manufacturer Exide Industries Limited (EIL) said that it has made a ₹80 crore rights-based investment in the equity share capital of its wholly-owned subsidiary, Exide Energy Solutions Limited (EESL). The corporation has invested a total of ₹3,882.23 crore in EESL as a result of this infusion. EIL's 100% stake in the subsidiary remains unchanged as a result of the investment. EESL was established on March 24, 2022, and produces and markets lithium-ion battery cells, packs, and modules for the Indian market for electric vehicles as well as stationary applications. To support this business, the company is now establishing a greenfield plant in Bengaluru.