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Following the takeover of US-based Exide Technologies’ sole Indian plant, Exide Industries will go ahead with production of lithium-ion batteries.
It has formed a joint venture with Switzerland-based Leclanché under a 75:25 equity partnership agreement, and this firm will manufacture the lithium-ion cells.
An Exide executive said that according to the agreement, Leclanché, besides picking up an equity stake, would provide the technology and necessary licences.
Exide will arrange for raw material and be responsible for production and sales. These batteries are expected to hit the market in 2020. This marks Exide’s maiden venture into lithium ion
It has formed a joint venture with Switzerland-based Leclanché under a 75:25 equity partnership agreement, and this firm will manufacture the lithium-ion cells.
An Exide executive said that according to the agreement, Leclanché, besides picking up an equity stake, would provide the technology and necessary licences.
Exide will arrange for raw material and be responsible for production and sales. These batteries are expected to hit the market in 2020. This marks Exide’s maiden venture into lithium ion
