Under the the agreement, SVOLT will grant Exide an irrevocable right, licence to use, exploit and commercialise necessary tech and know-how owned by them for Li-ion cell manufacturing in India
Exide Industries – one of India’s leading battery manufacturers catering to the automobile and industrial segments – has entered into a long-term technical collaboration agreement with China’s SVOLT Energy Technology Co Ltd for lithium-ion cell manufacturing, it said on Thursday.
Under the the multi-year agreement, SVOLT will grant Exide an irrevocable right and licence to use, exploit and commercialise necessary technology and know-how owned by them for lithium-ion cell manufacturing in India.
Additionally, SVOLT will also provide the support required for setting up of a state-of-the art green field manufacturing plant on a turnkey basis, the statement said.
The Jiangsu-headquartered SVOLT, is a global high-tech company engaged in the business of production and development of lithium-ion batteries and battery systems for electric vehicles as well as for energy storage. According to the statement, SVOLT is focusing on growing its global footprint and is expanding capacities to meet the increasing demand for battery applications.
Exide is in the process of forming a special purpose vehicle (SPV) by way of a wholly-owned subsidiary for carrying out lithium-ion cell manufacturing and is in a “fairly advanced” stage of discussions for finalising the land parcel for this facility.
Commenting on the development, Subir Chakraborty, MD & CEO, Exide, said the company was excited to partner with SVOLT as this collaboration was a major step forward in Exide’s aspiration of becoming a leading player in the rapidly emerging new-age electric mobility and stationary application businesses in India.
“With SVOLT‘s strong technical expertise, R&D capabilities and rich experience in manufacturing lithium-ion batteries, Exide plans to set-up a multi-gigawatt lithium-ion cell manufacturing facility. Spread out across two popular cell chemistries and three cell formats, this unit shall be uniquely placed to cater to the diverse requirements of customers in India,” Chakraborty said in a statement.
This strategic partnership is in line with Exide’s commitment to provide best-in-class batteries and energy storage solutions for automotive and industrial applications, he further said.
Exide has participated in the Production-Linked Incentives (PLI) Scheme for National Programme on Advanced Chemistry Cell (ACC) Battery Storage.
A few years back, Exide also forayed into lithium-ion battery systems and energy solutions through its subsidiary, Exide Leclanche Energy Private Limited (under the brand Nexcharge), together with the JV partner Leclanché SA, Switzerland.
The subsidiary aims to build lithium-ion modules / packs and provide energy storage systems for India’s electric vehicle market and grid-based applications.
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