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A 6000-Crore Exide Investment In Karnataka

TNI || New Delhi || 5th April 2022

Exide Industries has announced a Rs. 6000 crore investment in Karnataka as part of its aspirations to build a giga plant for lithium-ion cell manufacturing.

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Exide Industries’ MD and CEO, Subir Chakraborty, met with Karnataka Chief Minister Basavaraj Bommai and his team to finalise the investment.

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Exide has sought 80 acres of land near Bengaluru airport in the Haraluru Industrial Area for the new factory, which will be one of India’s largest giga factories for modern cell chemistry technologies.

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As a result of the project, around 1200–1400 people are expected to be employed as a result.

The State of Karnataka provides an excellent industrial environment, infrastructure, and support to investors, and they are very happy to explore larger investment opportunities in Bengaluru, says Commissioner for Industrial Development Director, Department of Industries & Commerce, Gunjan Krishna.

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In the coming days, the Exide initiative will provide about 1200–1400 active and passive work possibilities. The partnership will allow Exide to continue developing and growing while also demonstrating their tremendous capacity to ‘Build for the World.’