Leading battery maker Exide Industries is in advanced discussions with two major two-wheeler companies and one three-wheeler player for battery manufacturing, the management said during an investor call on May 6. Shares of Exide Industries were sharply higher by 2 percent soon after the details of the concall were reported.
The management shared an update on its partnership with Hyundai Motor India, and said product development has already commenced for the deal. Hyundai Motor India would be the first Indian automaker to use locally manufactured battery cells for its electric vehicles, after it announced a binding term sheet with Exide Industries' subsidiary Exide Energy Solutions back in December 2024. The partnership is expected to help Hyundai localise battery sourcing and ensure cost competitiveness.
Exide Industries also confirmed that it is supplying auxiliary batteries for E2W and E4W to auto OEMs. The company has been seeing a rising demand for advanced batteries, as faster urbanization powers vehicle demand. Aside of suppling auxiliary batteries to OEMs, Exide said it is lining up new products for commercial vehicles, e-rickshaws and inverters.
The battery maker has plans to offer end-to-end rooftop solar solutions, which it says would be a key revenue driver for the company, along with launching new products and exporting to newer geographies. Centre has already announced 500GW renewable energy target by 2030, along with a rooftop solar electricity generation target of 40GW by 2026, which is expected to drive growth for the company in the near term, Exide Industries said.
An increasing consumer requirement for uninterrupted power supply has been cited as another key growth area for the company.
Exide has also highlighted four key areas as mega trends for the company, namely, rising demand for mobility, data centers, increasing automation in transport and warehousing, and lastly, rising investment in power, telecom and urban infrastructure.
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