Exide Industries Ltd., incorporated in the year 1947, is a Mid Cap company (having a market cap of Rs 22822.50 Crore) operating in Auto Ancillaries sector.
Battery demand of 250GW could be achieved with incentives of INR 1.8 tn over FY24-28 and an initial capex of USD 30-33 bn, says the report on ‘EV Batteries: Battle to control EV supply chain by Axis Capital.
India envisions a future where 30% of new vehicle sales will be electric by 2030. A substantial amount of battery storage is needed to facilitate this shift - a staggering 34 GW or 136 GWh to support the additional 450 GW of renewables.
US-based IBC signed an agreement with the state government this month to set up a recyclable lithium-ion battery manufacturing unit. The company plans to invest Rs 8,000 crore in the project.