Exide Industries Ltd., the country’s largest lead-acid battery manufacturer. In this article, you will learn a brief introduction of Exide lithium ion battery.

Exide lithium ion battery

Exide finds success in lithium-ion battery market: “It is a big honour that Exide Industries, India’s leading battery producer, has chosen Leclanché to work with them in their drive to assist India achieve its zero emissions goals and reduce the country’s reliance on fossil fuels,” stated Anil Srivastava, CEO of Leclanché.

Exide’s choice of Leclanché as its preferred partner is a significant affirmation of Leclanché’s profound knowhow and IP, as well as our world-leading cell and energy storage technologies, which are the result of our rich legacy and a decade of lithium-ion R&D and production investment.

The JV will give Leclanché with giga-scale procurement volumes, reducing costs and increasing recurring annuity income, enabling recurring stable revenue growth for the Company in an area that is predicted to be fastest growing and largest markets for electric cars.

This is a significant step forward in our stated growth goal and more indication that the time is right for Leclanché. We are very excited to collaborate with Exide Industries to bring the best of Leclanché to market: outstanding cell technologies, IP, and know-how that combines high-quality German engineering and Swiss accuracy with extensive experience in the design and execution of battery storage solutions.”

“Leclanché SA is the appropriate partner for us in India,” stated Gautam Chatterjee, CEO of Exide Industries. Superior technology, modules, and battery management systems, as well as instant access to technical resources to produce market-ready products, are all brought to the table by the company.

This will allow us to assume the lead in the lithium-ion battery business, which is predicted to grow rapidly in the coming years. Efforts to create alternative state-of-the-art technologies such as lithium-ion batteries and energy storage systems are critical in addressing environmental concerns.”

Exide Industries Ltd (BSE: 500086), India’s largest manufacturer of lead acid storage batteries and provider of power storage solutions, and Leclanché SA (SIX:LECN), one of the world’s leading energy storage solution companies, headquartered in Switzerland, announced today a joint venture to build lithium-ion batteries and provide energy storage systems for India’s electric vehicle market and grid-battle.

Exide Industries wants to build a gigafactory similar to Tesla’s.

Exide Industries, the country’s largest car battery manufacturer, plans to use the production-linked incentive (PLI) system to build a Tesla-style gigafactory as it shifts its attention to lithium-ion batteries.

Derisking

According to Chakraborty, the company is looking into de-risking in order to tap export markets and “build deeper presence” in the existing 50 markets, which include West Asia, Europe, Southeast Asia, and the United States. Focus on the industrial area is also being explored across international markets, with exclusive tie-ups.

“While lead acid batteries still have a lot of promise, the company aims to increase exports. Furthermore, OEMs in India and elsewhere are considering hybrid battery models, where we now have a presence,” he added.

Exports currently account for about 7-8 percent of the company’s nearly $1 billion in revenue.

In India, price hikes in the automobile battery market (lead acid battery) totaled roughly 5.5 percent in FY21, with another 4% already implemented in phases this year. Price increases have been connected to changes in the price of lead.

Exide lithium ion battery manufacturing facility

Exide also plans to open a lithium-ion battery assembly plant in Gujarat by the end of the fiscal year. Because of the epidemic, plans to start up the plant were put on hold for a year.

“Things like plant and machinery supply and bringing in engineers were delayed first by the national lockdown last year, and then by the second wave of Covid infections,” Chakraborty said.

The company already has partnerships with over a hundred OEMs, and various prototypes and testing are underway. He continued, “We expect the products to hit the markets around this fiscal.”

The joint venture with Leclanche SA, based in Switzerland, is the company’s first of its kind as it attempts to break into the electric vehicle and energy storage markets.

Exide raises its stake in the company.

Exide, a battery company, has increased its stake in an energy storage subsidiary to 80.15 percent. Exide Industries Limited signed three share subscription and shareholder agreements with Cleantech Solar, a renewable energy provider, to deploy captive solar projects at its factories last year.

Exide Industries had previously announced that it will invest up to 30% of its entire equity share capital in three special purpose vehicles to set up captive solar power projects for its manufacturing plants, according to Mercom.

According to Mercom’s 9M and Q3 2020 Funding and M&A Report for Battery Storage, Smart Grid, and Efficiency, global venture capital funding for battery storage companies increased by 78 percent in the third quarter of 2020, with $661 million raised through seven deals versus $372 million raised through eight deals the previous quarter. Lithium battery makers received the most funding in Q3 2020, according to the research. However, funding was 25% lower in the first nine months (9M) of 2020, with $1.2 billion in 21 deals vs $1.6 billion in 25 projects in 9M 2020.

The battery producer stated in its regulatory filing that the investment was made to meet the funding requirement, specifically for the joint venture’s capital expenditure initiatives.

Exide Industries Limited and Leclanche, a worldwide energy storage solutions provider, launched a joint venture (JV) in June 2018 to manufacture lithium-ion (Li-Ion) batteries and energy storage systems for India’s EV market and grid-based application.

With this new investment, the business boosted its ownership in the subsidiary from 77.87 percent to 80.15 percent and purchased 13.26 million equity shares of 10 ($ 0.14) at a premium of 15 ($ 0.20) apiece. On November 23, 2020, the corporation received the equity shares.

Bottom line

Your passion is being accelerated with Exide lithium ion battery. The new Exide Li-ion Motorbike & Sport battery line is designed for riders who desire the best possible ride. Because of the battery’s ultra-lightweight design, your bike’s overall weight is reduced, allowing for faster acceleration and improved performance. It has a very low self-discharge, making it perfect for starting your car after being off the road for a lengthy time. Exide Li-ion may be put in a variety of locations and has top-notch safety features.

Frequently asked questions for Exide lithium ion battery

Is Exide a manufacturer of lithium-ion batteries?

Exide Leclanche Energy, a joint venture with Swiss business Lechlance, will produce lithium ion batteries in India. According to Chakraborty, the company aims to strike a balance between existing lead acid batteries and future goods.

Who is the world’s largest lithium battery manufacturer?

Albemarle Corp., the world’s largest lithium manufacturer, is racing to develop improved versions of the metal that could lead to better electric vehicle batteries.

How much does a lithium-ion battery cost?

The cost of a lithium-ion battery pack is now around $140 per kilowatt hour. According to BloombergNEF, a consultant, the holy grail is $100 per kilowatt hour, at which point EVs will be cost-competitive with combustion engines.

How long does a lithium ion battery last?

A Lithium-Ion battery’s expected life span is two to three years or 300 to 500 charge cycles, whichever comes first. A charge cycle is a period of use in which the battery is entirely charged, fully drained, and fully recharged.