Exide Industries Ltd is looking to start producing batteries for electric vehicles, managing director and chief executive officer Gautam Chatterjee said on the sidelines of the company’s annual general meeting on Thursday. Exide is also exploring the market to launch batteries for electric two-wheelers. However, the two-wheelers run only on lithium-ion batteries, which are more expensive, Chatterjee said, adding that production of these batteries would start when demand for electric two-wheelers picks up. Exide is looking to sell at least one million Dynex batteries in the current fiscal year, Chatterjee said. However, Exide Technologies’ Indian brand Prestolite was not attractive from the standpoint of goodwill, Chatterjee said adding Exide was unlikely to be interested in buying it.

Source: Mint July 27, 2017 18:00 UTC