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Battery maker Exide Energy intends to double its production capacity and is seeking additional 40 acres of land.
The company has already undertaken the work of setting up a lithium battery cell plant at Devanahalli, near Bengaluru.
Also Read | Exide Industries expects growth in business
Mandar Deo, Managing Director and CEO, Exide Energy met large and medium industries minister MB Patil and submitted a proposal in this regard.
Patil said, “The company has already taken up the work of setting up a plant of 6,000 gigawatts-hour production capacity. The work is in progress and operation is likely to commence in 2024. In addition to this, the company desires to add another 6,000 gigawatts-hour of production capacity. The total investment for the two plants would be Rs. 6,000 crore.”
Also Read | Exide Industries to invest ₹6,000 crore on Lithium ion cell unit
The government said it intends to facilitate the growth of the EV sector in the state, and would decide on the proposal after a review. The meeting was joined by S Selva Kumar, Principal Secretary, Gunjan Krishna, Commissioner, Department of Industries & Commerce, and Veerabhadra, Head (HR), Exide Energy.
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