Exide Energy Solutions (EESL) has completed Phase I of a 6 GWh lithium-ion cell manufacturing facility located in Devanahalli in Bengaluru, Karnataka.

The facility aims to manufacture advanced lithium-ion cells across multiple chemistries and form factors, allowing it to serve mobility and energy storage applications.

In July 2026, Exide Industries (EIL) announced a ₹1 billion (~$10.38 million) investment in EESL to fund a gigawatt-scale lithium-ion cell manufacturing facility in Bengaluru. The investment was made through subscription in EESL’s equity capital on a rights basis.

Post this investment, EIL’s investment in EESL stood at ₹49.02 billion (~$508.85 million).

In March, Exide Industries made an additional investment of ₹4.5 billion (~$47.86 million) in its wholly owned subsidiary, EESL, through a rights issue of equity shares.

Last December, Exide invested ₹1.8 billion (~$20.04 million) in EESL by subscribing to the subsidiary’s equity capital via a rights issue.

According to an International Energy Agency report, the global lithium-ion battery market exceeded $150 billion in 2025, up 20% from 2024. The report noted that falling battery costs and expanding applications continue to drive rapid demand growth across multiple sectors.

Global lithium-ion battery deployment in 2025 was six times higher than in 2020. After electric vehicles, battery energy storage systems were a major growth driver, accounting for about 15% of the market. This represents a sharp shift from a decade ago, when nearly half of global battery demand came from portable electronics.

Meanwhile, India’s energy storage pipeline crossed 110 GWh across the under-development and pre-construction stages, according to data from the Mercom India Renewable Energy Project Tracker.

India added 8.2 GWh of battery energy storage capacity in the first half (1H) of 2026, nearly 84 times the 98.4 MWh installed during the same period last year, according to Mercom India Research’s Q2 and 1H 2026 India’s Energy Storage Landscape Report.