Exide Industries is planning to spend over Rs.1,400 crore for the next one year on capital expenditure for technology up-gradation and capacity expansion.
Major share of the investment will be used to upgrade its Hosur plant.
Exide will be implementing a large scale Cast-On-Strap (COS) line at Tamil Nadu’s Hosur, which will be manufacturing large-size batteries in the current financial year, enabling faster turnaround and output.
For the technology up-gradation, the company has tied up with leading US-based lead-acid batteries manufacturer East Penn Manufacturing Company (EPM), which is providing the knowhow, technical assistance and support for the punch grid technology.
Punched battery grids is a superior technology as the punching system produces consistent grids, in turn providing better life and reducing warranty cost of the battery in both automotive and industrial segments.
While it executed the first order in gel-based products (Powergel) for the power sector in March this year, for the railway sector two new products are under development, which is likely be rolled out in this fiscal.
In solar sector it has launched all intermediate ranges and plugged in gaps in product range through strategic product launches.
Exide saw a leadership change in May this year with Gautam Chatterjee taking over as the new managing director and CEO for three years. Chatterjee replaced P.K. Kataky, who retired from services of the company on April 30.