
Exide Industries is setting up a lithium-ion cell manufacturing gigafactory in Bengaluru under its subsidiary, Exide Energy Solutions Ltd (EESL). The company is in advanced discussions with two leading two-wheeler manufacturers and several three-wheeler companies to supply battery cells for electric vehicles.
“We are in advanced-stage talks with two major two-wheeler OEMs for cylindrical cells. Likewise, on the three-wheeler side, we are in advanced discussions for LFP cell supplies,” said Exide Industries MD & CEO Avik Roy during a recent investor update.
The factory’s first phase will have a 6 GWh capacity, which will eventually scale up to 12 GWh. The company plans to begin commercial production in the current financial year, with trial production set to start within this calendar year and full-scale production expected 4–5 months after homologation.
So far, Exide has invested ₹1,000 crore in the project for FY2025 and an additional ₹300 crore in April. The total equity investment by Exide in EESL stands at ₹3,602 crore.
Roy emphasized that Exide has adopted a multi-chemistry and multi-format approach to mitigate risk, with two cylindrical and two prismatic lines — representing two each for NMC and LFP chemistries. Initially, production will begin with cylindrical NMC cells, designed specifically for two-wheelers.
Exide has partnered with China-based SVOLT Energy Technology, allowing the company to leverage SVOLT’s technology and know-how for lithium-ion cell manufacturing. Exide has also recently partnered with South Korean automakers Hyundai and Kia to supply locally produced LFP-based lithium-ion batteries for their future EVs in India.
“We are currently engaged in three types of customer partnerships. It’s encouraging to see top 2-wheeler, 3-wheeler, and even 4-wheeler OEMs actively engaging with us, recognizing the value of locally sourced battery cells,” Roy added.
In addition to this project, Exide already operates a battery pack and module assembly unit in Gujarat with a 1.5 GWh capacity. Currently reliant on outsourced cells, the company plans to switch to its in-house cells once production begins in Bengaluru.
Meanwhile, Exide’s competitor Amara Raja Batteries is also building a lithium-ion cell facility in Telangana, expected to start by the end of 2026 with an initial capacity of 2 GWh for NMC cells. The company also plans to produce LFP cells and has formed partnerships with Ather Energy and Piaggio India.
Other major players such as Ola Electric, Reliance Industries, Tata Group, JSW Group, and GODI India are also entering the lithium-ion battery manufacturing space by setting up their own gigafactories, signaling a significant shift toward localized battery production in India’s EV ecosystem