Exide Industries negotiates battery supply deals with 2-wheeler & 3-wheeler EV makers, while advancing its Hyundai partnership for localized lithium-ion cell production in India.
Exide Expands EV Battery Footprint with 2W/3W OEM Talks & Hyundai Partnership
Kolkata, 6 May 2025 – Exide Industries India’s leading battery manufacturer is in advanced discussions with two electric two-wheeler makers and one three-wheeler company for battery supply agreements, as revealed during its latest investor call. This development comes alongside progress in its strategic partnership with Hyundai Motor India for localized EV battery production.
Key Developments
1. EV Battery Partnerships
✔ 2W/3W Collaborations: Negotiations ongoing with top electric scooter & rickshaw makers
✔ Hyundai Milestone:
- Product development started for India’s first locally produced EV battery cells
- Binding agreement signed in December 2024 via subsidiary Exide Energy Solutions
✔ Auxiliary Batteries: Supplying E2W (electric 2-wheelers) & E4W (electric 4-wheelers)
2. New Product Pipeline
- Commercial vehicle batteries
- E-rickshaw power solutions
- Next-gen inverters
- Rooftop solar energy systems (aligned with India’s 40 GW rooftop solar target by 2026)
Strategic Growth Drivers
| Sector | Opportunity for Exide |
|---|---|
| EV Mobility | Rising demand for 2W/3W batteries |
| Data Centers | Backup power solutions |
| Logistics Automation | Industrial battery demand |
| Renewable Energy | Rooftop solar & storage |
Management Insights
Exide Leadership (Investor Call):
*”Our discussions with 2W/3W OEMs underscore Exide’s shift towards next-gen energy solutions. The Hyundai partnership will make us a key player in India’s EV battery indigenization.”*
Market Analyst:
*”With 500 GW renewable energy target by 2030, Exide’s solar and EV battery bets position it for long-term growth.”*
Why This Matters?
✅ EV Localization: Reduces India’s dependence on Chinese battery imports
✅ Revenue Diversification: Expands beyond traditional lead-acid batteries
✅ Policy Tailwinds: Aligns with PLI schemes for ACC battery storage
Upcoming Milestones
- Hyundai battery production timeline (Expected 2026)
- Finalization of 2W/3W partnerships
- Rooftop solar solutions launch
