Exide Industries Ltd, India's leading manufacturer of lead acid storage batteries and power storage solutions provider, has formed a joint venture with the Switzerland-based Leclanche SA, one of the world's leading energy storage solution companies, to build lithium-ion batteries and provide energy storage systems for India's electric vehicle market and grid-based applications. Exide Industries, which is committed to setting up large-scale manufacturing of lithium-ion batteries, will be the majority shareholder and Leclanche will be the strategic minority shareholder of the JV.
The JV will set up a production plant in Gujarat. A module and battery pack assembly line is expected to be operational by Q2 2019 and a lithium-ion cell production plant is expected to be in operation by mid 2020. In the intervening period, cells will be sourced from Leclanche's plant in
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As part of the JV, Leclanche will provide access to its knowhow and intellectual property for lithium-ion cells, modules and battery management systems and Exide Industries will leverage its extensive sales network and brand. The JV will focus on e-transport, stationary energy storage systems and specialty storage markets. In e-transport, the target segment is fleet vehicles including e-buses, e-wheelers and e-rickshaws.