Exide Industries Ltd. is preparing to introduce a new Absorbent Glass Mat (AGM) battery especially intended for starting, lighting, and ignition (SLI) applications, in response to the growing need for state-of-the-art battery technology in the automobile industry. Currently, AGM-based lead-acid batteries are thought to offer better performance than standard lead-acid batteries for cars. They are designed to give better starting power, more longevity, and possibly even a longer lifespan.
The company said in its annual report that a number of original equipment manufacturers (OEMs) are switching to more advanced AGM batteries. As a result, Exide is wrapping up the necessary steps to introduce these SLI AGM batteries to the US and other markets. According to Exide, SLI-AGM batteries are increasingly the preferred choice for newer cars with energy-saving features like regenerative braking, which stores energy in the battery instead of wasting it.
The business stressed that only the most sophisticated, sealed AGM batteries can meet OEM requirements now that they have grown to that stage. Exide believes that a sizable portion of all four-wheeler battery needs, particularly for passenger cars, will be met by SLI-AGM batteries. Targeting both domestic and international automobile markets, East Penn Manufacturing in the USA is collaborating with us to create SLI-AGM batteries. Exide has stated that the launch is going to happen soon, even though it has not given a precise release date.
In the fiscal year 2023-24, the Kolkata-based company reported revenues exceeding Rs 16,000 crore, with the automotive division contributing approximately 70 per cent of its total business. Additionally, Exide is establishing a Gigafactory in Karnataka for the production of lithium-ion cells, boasting a total planned capacity of 12 GWh. The facility’s initial phase, set to have a capacity of 6 GWh, is slated for completion between 2022 and 2025.
Exide and SVOLT Energy Technology Co Ltd, a Chinese company that develops and produces lithium-ion batteries and storage solutions for a range of applications, have a strategic agreement. By means of this collaboration, Exide has obtained the authorization to employ and promote SVOLT’s technology and proficiency in the production of lithium-ion batteries.
Exide has revealed alliances with Hyundai Motor Co. and Kia Corp., two massive South Korean automakers. The goal of this partnership is to supply lithium-ion batteries made locally using the lithium iron phosphate (LFP) chemistry for use in upcoming electric vehicles on the Indian market.
