Stored energy solutions provider Enersys has acquired the remaining 49.5% stake in its Indian JV company Energy Leader Batteries India.
The acquisition of the remaining ownership is to accelerate Enersys’ regional growth strategy.
In April last year, US-based Enersys had acquired 50.5% stake in Hyderabad-based Energy Leader Batteries India Private Limited, a VRLA battery manufacturer through its Singapore subsidiary – Enersys Reserve Power Pte. Ltd.
Post the acquisition the company operated as a JV serving both reserve power and motive power customers in India.
Incorporated in 2007, Energy Leader Batteries manufactures VRLA batteries for industrial applications. The company offers VRLA batteries for telecom industry (fixed line operators, cellular service providers, switch & exchange OEMs) and railways.
Enersys became the largest producer of batteries for the US space industry after it purchased a southern California company, Quallion LLC, for US$35 million, earlier this month.
The battery industry in India that comprises automobile, sealed maintenance free, tubular and lead-acid batteries, has been registering an annual growth rate of 25% year-on-year. While China still remains the world’s largest battery market, India is expected to register the strongest growth in sales by 2014.