Karnataka: Exide Energy seeks additional 40 acres of land to set up second Lithium cell plant

Exide Energy Managing Director and CEO Mandar V Deo met Patil on August 21 and submitted a proposal.

Exide Energy, which commenced the establishment of a lithium battery cell plant at Devanahalli Industrial Area second phase in Karnataka, plans to double its production capacity and has requested an additional 40 acres of land for this purpose.

"The company has already commenced the construction of a plant with a production capacity of 6,000 gigawatt-hours in Devanahalli Industrial Area second phase. The work is in progress, and operations are expected to commence in 2024. Additionally, the company aims to add another 6,000 gigawatt-hours of production capacity. The total investment for the two plants would amount to Rs 6,000 crore," said Karnataka Large and Medium Industries Minister MB Patil on August 21.

The company's team, led by Managing Director and CEO Mandar V Deo, met Patil on August 21 and submitted a proposal.

Patil said the government, which aims to facilitate the growth of the EV sector in the state, will make a decision after reviewing the proposal.

The company plans to initiate the establishment of the proposed second plant in the year 2024, said a statement from Patil's office.