Exide Industries Adds Nearly Rs 200 Crore to Battery Arm

Exide Industries has put almost Rs 200 crore more into its battery-making subsidiary, Exide Energy Solutions.

This brings the total amount invested to more than Rs 5,100 crore.

The subsidiary makes lithium-ion cells, modules and battery packs.

These products are intended for electric vehicles and energy storage.

The new money will help build a large battery-cell factory in Bengaluru.

It will also help pay the subsidiary’s regular business expenses.

Exide Energy Solutions is still fully owned by Exide Industries.

The subsidiary had sales of Rs 157.56 crore and a loss of Rs 248.16 crore in the year reported.