Exide’s Plans for E-Mobility – EV Next
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Introduction
Headquartered in Kolkata, Exide is the largest manufacturer of automobile batteries in India for ICE vehicles and is now developing technologies for supplyingg Li-ion batteries for electric vehicles and grid storage.
Company Profile
Exide designs, manufactures, markets and sells the widest range of lead acid storage batteries in the world from 2.5Ah to 20,600Ah capacity, to cover the broadest spectrum of applications. Using the latest technological inputs, they manufacture batteries for the automotive, power, telecom, infrastructure projects, computer industries, as well as the railways, mining and defence sectors.
Product Profile
The company sells 2 variants of Exide e-ride e-rickshaw battery in India: E Ride Plus & E Ride Tubular.
The company manufactured and launched an electric rickshaw named Neo, powered by its VRLA battery for sale through select channels in NCR from October, 2019.
Future Plans
- The company plans to assemble auto rickshaws from October, 2019 and aims to generate INR 120 Cr revenue after a year of operation
- Plans to gain 10% market share in one year in the electric rickshaws sector.
- Lithium-ion variant of e-rickshaw to be launched in next six months
- In order to provide their e-rickshaws on easy EMIs, the company is in talks with finance companies and intermediate distributors to come up with leasing schemes.
Partnerships
- Eyeing India’s electric vehicle (EV) market and grid-based applications, Exide had formed a joint venture with Switzerland-based Leclanché SA, one of the world’s leading energy storage solution companies, in June 2018 in a 75:25 ratio
- The key area of focus for the venture will be e-transport, stationary energy storage systems, and specialty storage markets. In e-transport, which is the primary target segment, the venture will work on a fleet of vehicles including electric buses, electric two-wheelers and electric rickshaw.
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