Exide Industries said its subsidiary has executeda sales agreement in Bengaluru to set up a lithium ion battery cell manufacturing facility. Energy Solutions Ltd NSE 1.88 % (EESL) has executed the lease-cum-sale agreement with Karnataka Industrial Areas Development Board (KIADB) for procuring land parcel in Bengaluru, the company said in a regulatory filing.
The plant would be used to set up multi-gigawatt Li-ion battery cell manufacturing facility for the new-age electric mobility and stationary application businesses in India, it added.
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