Exide Energy, a well-known producer of automotive and industrial batteries, has asked the Karnataka government for an additional forty acres of land in the Devanahalli Industrial Area.

This area will be used for their ambitious project's second phase, a 12-gigawatt-hour lithium-ion cell production facility that is expected to cost over 6,000 crore.

The first phase, a 6 gigawatt-hour plant, is expected to be finished by the business by 2024 for an estimated expenditure of 4,000 crore.

The manufacturing capacity is anticipated to quadruple during the project's second phase.

Notably, this development follows closely on the heels of the US-based International Battery Company (IBC), which recently signed a memorandum of understanding with the Karnataka government to establish a lithium-ion battery manufacturing unit focused on recyclable batteries.

This venture involves a substantial investment of Rs 8,000 crore and will be situated on a 100-acre plot in Bengaluru rural district.

Another player in the lithium-ion battery manufacturing industry, NSure Reliable Power Solutions, is poised to launch its giga-factory near Bengaluru.