SalomeChrist
Release Time:
June 2, 2024, 4:58 AM
I'm a seasoned industrial engineer with a keen interest in machine learning. Here to share insights on latest industry trends.
The COVID-19 Exide has proven popular when it comes to lithium-ion batteries This is favorable.
Gautam Chatterjee, Managing Director and CEO of Exide, said on Tuesday that sales in the passenger car and automobile segments, which have been declining for several months due to the popularity of the new crown virus, are showing signs of recovery. The year-on-year decline in the two-wheeler segment was much smaller compared to previous months.
"In the last two years, the automobile industry has not performed as expected. A similar situation continued in the first few months after the blockade. However, there are signs of improvement in demand, especially in the budget car and two-wheeler segments." Speaking at the company's annual general meeting, Chatterjee said demand in the automobile sector is expected to improve during the festive season.
He added, "Many automakers have seen an increase in sales over the previous months, which has infused resolve in this sector." However, Exide is less than 20% dependent on automakers, so there is no impact on the aftermarket. We are a leader in the automotive OEM aftermarket space.
Two new companies--MG Motors (with the Hector model) and KIA Motors (Seltos)--opened this year with 100 percent Exide batteries, Chatterjee said.
Exide Industries, the market leader in batteries for automotive OEMs, said the outbreak has not hindered its growth as the company works to build capacity and expertise in electric vehicles and storage of lithium-ion batteries. The plan. The company added that it expects a gradual recovery in battery demand.
Formation of a Joint Venture "Formation of a Joint Venture" Exide Leclanche Energy Private Limited has entered into a technical and financial partnership with European Energy Storage Solutions.
Chatterjee said the JV has an assembly line with a capacity of 1.5GWh and is a leader in the Indian lithium-ion battery market.
"Lines for assembling cylindrical, square and flexible pack battery packs have been ordered and some of them are already operational. We have secured many OEMs, large telecom operators, UPS manufacturing companies and solar companies. "We have received many pilot orders," he added.
The COVID-19 Exide is proving popular and has advantages in lithium-ion batteries. Chatterjee explained: "Many automakers that were planning to go to China to buy batteries are now coming back to us."
He also talked about "super batteries" and other solutions in energy storage and lithium chemistry, and said that with lower initial costs and incremental improvements in technology, electric vehicle production can now increase.
