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Exide announces investment of Rs 6,000 crore in Karnataka

This is for setting up one of the largest giga factories for advanced cell chemistry technology.

March 31, 2022 / 08:14 PM IST
Representative image

Representative image

Exide Industries on Thursday announced an investment of Rs 6,000 crore in Karnataka. This is for setting up one of the largest giga factories for advanced cell chemistry technology.

"Exide Industries MD & CEO, Subir Chakraborty, met with Chief Minister (Basavaraj Bommai) this morning for Rs 6,000 crore investment in a Lithium-Ion cell manufacturing giga factory," Department for Industries and Commerce said in a statement. Stating that this will be one of the country's largest giga factories for advanced cell chemistry technology, it said Exide has requested 80 acres of land in the Haraluru Industrial Area near Bengaluru airport.

ALSO READ: Exide partners with Chinese Company SVOLT Energy to make lithium-ion batteries

The project is expected to generate 1,200 -1,400 employment opportunities, it added.



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PTI
first published: Mar 31, 2022 08:14 pm
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