India’s Exide Energy has requested 40 acres of land from a regional Indian government for the second phase of its lithium-ion gigafactory construction.
MB Patil, Minister for Commerce & Industries in the Karnataka government in south-west India, said on X (formerly Twitter) that he met with Exide Energy’s CEO, Dr. Mandar V. Deo, and other representatives to discuss the plans.
Exide Energy’s parent company Exide Industries said in its Q4 trading report that site enablement works for the lithium-ion cell manufacturing plant in the Devanahalli Industrial Area have been completed and construction activity is progressing as per schedule. It is collaborating with Svolt Energy Technology Co., including on the training of R&D staff.
The plant will target India’s electric vehicle market and grid-based applications.
Media reports said investment is $725 million in the 12 GWh lithium-ion cell manufacturing unit. The company expects the first 6 GWh phase to be completed in 2024, with an estimated investment of $484 million.