The company, which has already invested around Rs 4,800 crore in the Advanced Chemistry Cell (ACC) manufacturing facility, will invest another Rs 1,400 crore during the current fiscal to complete the first phase of the project, Roy said.
“We expect revenue to start flowing in from the Bengaluru plant by the third quarter. Initially, we will replace imported lithium iron phosphate (LFP) cells for our Gujarat battery pack plant catering to the three-wheeler segment. By the end of the fiscal, we also expect supplies for certain two-wheeler battery pack applications and nickel manganese cobalt (NMC) cells for OEMs, subject to the homologation and approval process,” Roy told reporters after the AGM.
He said the company is also targeting commercial supplies for stationary lithium battery applications from the third quarter.
Roy said Exide expects to begin utilising around 3 GWh of the plant’s 6 GWh first-phase capacity during the current fiscal, while the qualification process for passenger vehicle battery cells has also commenced.
The Bengaluru facility is currently in the commissioning phase, with the company working on stabilising manufacturing processes before ramping up production.
The plant has been designed to manufacture both LFP and NMC chemistries in cylindrical and prismatic cell formats, and the company dispatched its first cell samples during the first quarter of the current fiscal as part of the customer qualification process.Describing the lithium-ion venture as a strategic transformation, Roy said Exide is balancing investments in future battery technologies while retaining its leadership in the conventional lead-acid battery business.
“On one hand, you protect your legacy, and on the other hand, you invest in future technology. That is how Exide has reinvented itself over the last eight decades,” he said.
Roy said India’s lithium-ion cell demand is currently met almost entirely through imports despite the country’s rapidly growing electric mobility market.
Industry estimates project domestic demand for lithium-ion cells to rise to around 130 GWh by 2030, of which nearly 100 GWh is expected to come from electric vehicles, he said, adding that current demand is around 20 GWh.
The company has already supplied cell samples to original equipment manufacturers (OEMs) for validation and certification ahead of commercial production.
Welcoming the government’s decision to remove import duties on machinery used for battery cell manufacturing, Roy said more domestic manufacturers would be needed to meet India’s long-term demand.
“India’s automotive market is too large for a single manufacturer. Even our 6 GWh capacity cannot cater to the entire industry. We need multiple domestic players to build a robust battery ecosystem,” he said.
Exide, currently the market leader in the automotive OEM lead-acid battery market, is aiming to establish a strong presence in the lithium-ion battery segment as electric vehicle adoption gathers pace.
Exide has taken a price correction of 5-6 per cent increase in Q4 due to cost impact, Roy said.
West Bengal currently contributes 50 per cent of Exide’s business, and the company will explore more investments here, Roy said.
The company aims to cross Rs 20,000 crore only from core business in lead acid in 2-3 years from Rs 17,200 crore in FY26.