Exide Industries announces investment of Rs 60 bn in Karnataka

Exide Industries on Thursday announced an investment of Rs 6,000 crore in Karnataka.

This is for setting up one of the largest giga factories for advanced cell chemistry technology.

"Exide Industries MD & CEO, Subir Chakraborty, met with Chief Minister (Basavaraj Bommai) this morning for Rs 6,000 crore investment in a Lithium-Ion cell manufacturing giga factory," Department for Industries and Commerce said in a statement.

Stating that this will be one of the country's largest giga factories for advanced cell chemistry technology, it said Exide has requested 80 acres of land in the Haraluru Industrial Area near Bengaluru airport.

The project is expected to generate 1,200 -1,400 employment opportunities, it added.