Exide Industries makes an Investment of INR 40 crore in Exide Energy Solutions Limited

Exide Industries has made a significant investment of INR 40 crore in its subsidiary, Exide Energy Solutions Limited (EESL), bringing the total investment in EESL by Exide Industries to INR 1,820.01 crore. Established as a wholly-owned subsidiary of Exide Industries Limited on March 24, 2022, EESL focuses on the manufacturing and distribution of lithium-ion battery cells, modules, and packs. Primarily targeting the burgeoning electric vehicle market and stationary applications in India, this investment is a testament to Exide Industries' dedication to promoting clean and sustainable energy solutions.

The investment does not affect the shareholding structure of Exide Industries in Exide Energy Solutions. This development was officially announced in a statement to the Bombay Stock Exchange (BSE) on December 27, highlighting Exide Industries' commitment to maintaining transparency and sound financial management.

According to the article by Procurement Resource, Exide Industries invested INR 40 crore in Exide Energy Solutions Limited (EESL), elevating their total investment to INR 1,820.01 crore. Focused on producing lithium-ion batteries for electric vehicles and stationary applications, this move reflects Exide's commitment to clean energy. The investment doesn't change Exide's shareholding in EESL.