Exide Industries increases stake in Nexcharge joint venture with Leclanché

Exide Industries increases stake in Nexcharge joint venture with Leclanché

Exide Industries increases stake in Nexcharge joint venture with Leclanché 850 507 Energy Storage Journal

February 3, 2022: Indian lead-acid battery maker Exide Industries said on January 22, 2022, it has increased its majority stake in its lithium-ion joint venture with Swiss battery company Leclanché.

Exide Industries said in a regulatory filing that its total equity shareholding in the joint venture — Nexcharge — now stands at 84.90%.

In 2020, Exide Industries raised its stake in Nexcharge, formed in September 2018, from 77.87% to 80.15%.

Nexcharge is focused on the electric transport market — including e-buses, e-wheelers and e-rickshaws — in addition to stationary energy storage systems and speciality storage markets.

Last year, Nexcharge launched India’s first grid-connected lithium-ion battery-based community energy storage system, in Delhi, in collaboration with Tata Power Delhi Distribution.

Leclanché has said the Delhi system, at a TPDD substation in Rani Bagh, northwest Delhi, used lithium-nickel-manganese-cobalt-oxide (NCM) battery tech.

Nexcharge said the 0.52MWh system would be used to meet peak demand and provide backup power to “preferential” users in the event of a grid outage.