Exide Industries adds Rs 1 billion to lithium cell unit; IFC backs EV platform Transvolt
Author: PPD Team Date: July 25, 2025
Exide Industries has approved an additional equity investment of Rs 1 billion in Exide Energy Solutions Limited (EESL). This brings its total investment in the wholly owned subsidiary to Rs 37.0223 billion.
The new capital will fund the development of EESL’s greenfield lithium-ion cell manufacturing facility in Bengaluru. The first phase of the plant, with four production lines and a capacity of 6 gigawatt-hours (GWh), is scheduled to begin commercial operations by the end of the 2025–26 financial year. The full planned capacity of the facility is 12 GWh.
In a related development, the International Finance Corporation (IFC) is investing USD 20 million in Transvolt Mobility, an electric vehicle (EV) platform, as part of a USD 50 million round. This is IFC’s first equity investment in an EV platform.
Transvolt plans to scale its fleet to 3,500 EVs and eventually deploy 8,000 heavy commercial electric vehicles across India. The company has already rolled out 500 units since 2023.