Exide Industries has invested ₹1.8 billion (~$20.04 million) in its battery manufacturing arm, Exide Energy Solutions (EESL), by subscribing to the subsidiary’s equity capital via a rights issue.

With the latest investment, the total investment made by Exide in EESL stands at ₹42.02 billion (~$467 million). This includes the investment made in the erstwhile merged subsidiary Exide Energy.

Exide Energy Solutions, an existing wholly owned subsidiary of Exide Industries, was incorporated in 2022 and is engaged in the manufacturing and sale of lithium-ion battery cells, modules, and packs for India’s electric-vehicle  market and stationary applications.

In 2022, Exide announced that it was procuring 80 acres of land in Bengaluru to set up a greenfield multi-gigawatt lithium-ion battery cell manufacturing facility.

India added 48.4 MWh of energy storage capacity in the first half (1H) of 2025, a 74% decline from 186 MWh added in the same period last year, according to India’s Energy Storage Landscape 1H 2025 Report by Mercom India Research. India’s cumulative installed energy storage capacity reached 490 MWh by the end of June 2025.

Recently, the Ministry of Power directed states and procuring entities to ensure a minimum of 20% local content in the procurement of battery energy storage system projects being implemented under the viability gap funding program.

Lithium-ion batteries continue to dominate energy storage because of their long service life, high energy density, high efficiency, and fast power delivery. According to the International Renewable Energy Agency’s (IRENA) report’ Sodium-ion Batteries: A Technology Brief,’ supply disruptions in 2021 and 2022 and geopolitical tensions intensified concerns about the resilience and cost of lithium-ion batteries.

IRENA points to India as an emerging market where sodium-ion adoption could begin in electric two- and three-wheeler segments. Sodium-ion deployment in India is expected to begin around 2026, owing to the size and growth of India’s light-mobility market.