Exide Energy, which has started construction on a lithium battery cell factory in Devanahalli Industrial Area Phase 2, stated in a statement that it plans to increase its production capacity and has requested an additional 40 acres of land in this regard.

On Monday, the firm leadership team met with MB Patil, the minister of large and medium industries, and presented a proposal in this regard. The team is led by Managing Director and CEO Mandar V. Deo.

The company has already taken up the work of setting up a plant of 6,000 gigawatts production capacity in Devanahalli Industrial Area 2nd phase. The work is in progress and operation is likely to commence in 2024. In addition to this, the company desires to add another 6,000 gigawatts of production capacity. The total investment for the two plants would be Rs. 6,000 crore," Minister explained.

Welcoming the proposal, Patil said that the government which has intended to facilitate the growth of the EV sector in the state would decide on this after reviewing the proposal.