Exide Industries is extending its relationship with Japanese automotive battery maker Shin-Kobe Electric to improve the quality of the batteries it makes.
Exide has been under pressure to boost sales following a slowdown in the automobile industry. Poor performances over two consecutive financial quarters saw Exide warned by credit rating agency Moody that its rating could slide.
TV Ramanathan, MD and CEO of Exide, said the collaboration will lead to the implementation of new manufacturing processes for higher productivity and quality. It is hoped more effiecient manufacturing will lower the company's production costs.
The company has an existing technical joint venture with Shin-Kobe that this deal is built upon. It is not the first push for the company to improve its manufacturing standards, in 2012 it asked East Penn to collaborate to review its lead-acid batteries production.
Exide announced that Shin-Kobe would provide technology and extensive technical support and assistance to Exide to manufacture automotive batteries to a higher quality at its various Indian plants.