Exide Industries pumps ₹450 crore into EV arm; Bengaluru gigafactory set for rollout.

Exide Industries recently said it has infused another ₹450 crore into its electric vehicle battery subsidiary, Exide Energy Solutions Ltd, as its lithium-ion gigafactory in Bengaluru enters the final leg of commissioning, signaling a transition from the build-out phase to execution.

According to a regulatory filing, the latest investment was made through the allotment of 11.25 crore equity shares at ₹40 apiece on a rights basis. With this, Exide’s total commitment to the subsidiary has risen to ₹4,802 crore, while it continues to retain full ownership.

The fresh funds will be used to meet last-mile requirements such as equipment calibration, trial runs and working capital. The company is targeting the start of commercial production in the first half of FY26.

Phase 1 of the Bengaluru facility is expected to have an annual capacity of 6 GWh. It will manufacture both NMC (nickel manganese cobalt) cells for high-performance electric vehicles and LFP (lithium iron phosphate) batteries suited for mass-market EVs as well as stationary energy storage applications.