Exide Industries' Rs 6,000 crore lithium-ion cell manufacturing project has received a Rs 2,000 crore line of credit from banks. Lenders ICICI Bank, HDFC Bank, Axis Bank, HSBC Bank, and Kotak Mahindra Bank will extend credit to Exide Energy Solutions, the company's subsidiary, which will use the funds in tranches.

Near Bangalore, lithium-ion cell manufacturing and related projects are in the works. The total project capacity is 12 GWh, and it will be built in phases, with the first phase requiring an investment of Rs 4,000 crore.

Exide Industries has also applied to obtain regulatory approvals for the merger of its wholly-owned subsidiary Exide Energy (EEPL) with Exide Energy Solutions (EESL) to bring all lithium battery business entities under a single roof. EEPL operates a 1.5 GW lithium-ion battery packs and modules manufacturing plant at Prantij, Gujarat.

Meanwhile, in FY24, Exide Industries has planned a capital expenditure of Rs 700 crore for capacity enhancement, technology upgradation, and meeting statutory and compliance requirements.