India's Battery Race: Giants Invest Big

India's battery demand is anticipated to grow by almost six times by the year 2030, driving substantial investment from established manufacturers. Amara Raja Energy & Mobility is constructing a new energy and advanced battery business, including a 16 GWh lithium-ion ecosystem in Telangana, with a total investment of ₹9,500 crore. Their plans include Giga 1 for NMC cells, scheduled for commercial operations by Q2 FY28, and a prismatic LFP Gigafactory.

Furthermore, Amara Raja is establishing a 10 GWh Battery Energy Storage System (BESS) facility, with trial production expected by December 2026 and commercial operations in early 2027. The company is also increasing its battery pack assembly capacity to 9 GWh. In parallel, Exide Industries has commissioned its 6 GWh lithium-ion cell gigafactory in Bengaluru on September 23, 2026, through its subsidiary Exide Energy Solutions Limited (EESL).

Exide's facility manufactures both NMC and LFP chemistries, with initial focus on LFP cells for BESS and telecom applications. Commercial production commenced in September 2026. While domestic manufacturers face a cost disadvantage compared to Chinese imports, they aim to leverage shorter lead times and localization strategies. Both companies are making significant capital commitments to capitalize on India's growing new energy sector.