Bengaluru
Exide Energy, which has undertaken the work of setting up a lithium battery cell plant at Devanahalli Industrial Area 2nd phase has intended to double up its production capacity and sought additional 40 acres of land in this connection. The company leadership team led by Managing Director and CEO Dr Mandar V. Deo met large and medium industries minister MB Patil on Monday and submitted a proposal in this regard. “The company has already taken up the work of setting up a plant of 6,000 gigawatts-hour production capacity in Devanahalli Industrial Area 2nd phase. 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,” Minister explained. Welcoming the proposal, Patil said that the government which has intended to facilitate the growth of the EV sector in the state would decide on this after reviewing the proposal. The company has plans of initiating the setting up of the proposed second plant in the year 2024, Patil stated. S Selva Kumar, Principal Secretary, Gunjan Krishna, Commissioner, Department of Industries & Commerce, and Veerabhadra, Head (HR), Exide Energy were present.
