Industry News

Exide Invested USD43.8 Million to Expand its Plant Capacity

Exide Industries Limited plans to manufacture advanced motorcycle batteries at its plant in Haldia, West Bengal

India: Exide Industries, India’s leading battery maker has its manufacturing facilities located in West Bengal, Tamil Nadu, Ahmednagar, Maharashtra, Haryana, Pune, Uttaranchal and Bengaluru. The company is running on an annual production capacity of 2.2 million for automotive batteries and is expected to reach 3.5 million in coming 2 years after a huge investment. The company has witnessed a dip of 30% in OEM battery sales during last month, due to demonetization, however, the sales of batteries in replacement market have not been impacted. 

Exide Industries have recently made technical collaboration with East Penn Manufacturing Company based in USA, with the capital investment of around USD102.3 million, for manufacturing advance lead acid storage batteries in India.

As per TechSci Research, Exide ranks among the top players in the country’s automotive battery market. Moreover, the investment by the company would eventually infuse the sales of Exide automotive batteries, thus impacting the overall revenue generation of India’s automotive battery market. Further, this factor is likely to penetrate the automotive component market in coming years, as well.

According to a recent report published by TechSci Research, “India Automotive Battery Market Forecast & Opportunities, 2018”, the Indian automotive battery market is projected to grow at a CAGR of approximately 13% during 2013-18, in value terms. The key reason can be attributed to the recent launches of Medium Utility Vehicles (MUV) and Sports Utility Vehicles (SUV) such as Renault’s Duster, Mahindra’s XUV, Maruti’s Ertiga and Ford’s Eco Sports, etc. As a result, the utility vehicles battery market segment is expected to witness the fastest growth in automobile battery market, followed by two wheeler batteries. and light commercial vehicle battery market segments, over the next five years.

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