The country’s largest storage battery maker Exide Industries has said it is witnessing a “big leap” in online sales of its products, with the company stepping up its offerings for online sales channel.
The country’s largest storage battery maker Exide Industries has said it is witnessing a “big leap” in online sales of its products, with the company stepping up its offerings for online sales channel. “In line with the evolving business ecosystem in which brands are trying to reduce the lead time for providing services and enhancing consumer experiences, Exide has been constantly stepping up its offering across the entire value chain,” the company said in its latest annual report.
The city-based company, in its annual report for financial year 2017-18, said, “While our digital connect initiatives with our channel partners in the form of customised portals and apps have gained huge momentum, our real success story is the big leap we have managed to take in terms of online sales…” “Reaching an average monthly sale of over 10,000 units, our unique online marketplace model has opened up the huge potential that the online channel offers for our dealers. Today, over 2,500 unique channel partners sell batteries through this platform,” Exide said.
The company has nine factories, of which seven are dedicated to batteries and the other two manufacture home UPS systems. During the last fiscal, the firm’s capital expenditure stood at more than `750 crore, primarily in different manufacturing plants. Significantly, Exide Industries formed a joint venture with Switzerland-based Leclanché, one of the world’s leading energy storage solution firms, last month to make lithium-ion batteries for India’s electric vehicle market and grid-based applications. The joint venture was formed between Exide and Leclanché in a 75:25 ratio.
The JV company’s production plant will be based in Gujarat, where Exide is set to acquire a facility of Tudor India. The proposed plant would be the first such indigenous facility in the country. As part of the JV, Leclanché will provide access to its knowhow and intellectual property for lithium-ion cells, modules and battery management systems, and Exide Industries will leverage its extensive sales network and brand.
“Your company has also been pursuing the development of appropriate lithium-ion technology for applications in the country particularly for the emerging demands of electric vehicles. Prototypes have been assembled and are undergoing laboratory and field tests to be followed by submission for certification by regulatory authorities,” the battery major said in its annual report.