Exide to double capacity in 3yrs, invest Rs 450cr

Auto and industrial battery maker Exide Industries will invest Rs 450 crore in the next three years to double capacity.

S B Ganguly, executive chairman and chief executive officer, said the company intends to double production of automotive batteries, two-wheeler batteries and batteries for industrial applications in phases by 2010.

Exide currently produces six million automotive batteries, eight million two-wheeler batteries and one billion amp hours of batteries for industrial applications.

The capacity expansion would be across all plants from FY2007-08 with an initial infusion of Rs 150 crore. The company would decide on the next phase of investments after gauging the market conditions.

The three-year target of the company corresponded with the 25-year effort taken to reach the current status of capacity, Ganguly, who will step down after 13 years and assume the role of chairman- emeritus from next month, said.