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Exide Energy, which started building a lithium battery cell factory in Karnataka’s second phase of Devanahalli Industrial Area, wants to increase the size of its production facility and has asked for an extra 40 acres of land to do so. In the second phase of the Devanahalli Industrial Area, the corporation has already started building a plant with a 6,000 gigawatt-hour production capacity. The project is currently under construction, and operations should start in 2024. The company also plans to increase its production capacity by an additional 6,000 gigawatt-hours. The two plants will require an investment of Rs 6,000 crore in total, according to MB Patil, the minister of large and medium industries for Karnataka, on August 21.
On August 21, the company’s staff, led by Managing Director and CEO Mandar V Deo, met with Patil and presented a proposal. The proposal will be examined before a decision is made, according to Patil, whose administration wants to encourage the expansion of the EV market in the state. According to a statement from Patil’s office, the business intends to begin construction on the second proposed plant in the year 2024.