Exide Industries, a major manufacturer of lead acid batteries in India, and Swiss energy storage solutions manufacturer Leclanché are entering into a joint venture to produce Li-ion batteries and energy storage systems for India’s electric vehicle market and grid-based applications.
Leclanché will provide access to its know-how and technology for lithium-ion cells, modules and battery management systems, while Exide will leverage its sales network and brand.
Exide will be the majority shareholder, while Leclanché will be the minority shareholder.
The production facility will be based in the state of Gujarat, in the West of India. The companies expect a module and battery pack assembly line to be operational by the second quarter of 2019, with a lithium-ion cell production plant to follow by mid 2020. In the meantime, cells will be sourced from Leclanché’s plant in Willstätt, Germany.
The joint venture will focus on stationary energy storage systems, specialty storage markets and electric transport, targeting fleet vehicles such as buses, wheelers and rickshaws.
