Exide Industries adds Rs 1 billion to lithium cell unit; IFC backs EV platform Transvolt
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…