Exide Industries down by 2 per cent despite launch of e-rickshaw

Exide Industries is set to launch Exide Neo, thus marking its entry into the e-rickshaw market in India. 

Catering to domestic markets, Exide Neo is a technologically advanced e-rickshaw to be launched by the company. The company announced that this e-vehicle will be launched in selected markets in India and shall be for purchase through its exclusive network of dealers. Exide which is battery maker has tailor made batteries for the e-rickshaw making it the first branded battery marker to bring a product exclusively for this sector. The e-rickshaw is expected to be superior in terms of technology, longer runs and comfortable rides. It will also pose a modern look and feel similar to that of an international product. Gradually, over a period of time, the company intends to introduce ExideNeo throughout India.

Exide Industries Limited is a Kolkata headquartered storage battery producing and life insurance company. It is one of the largest manufacturer of automotive and industrial lead-acid batteries in India.

On Wednesday, the stock of the company was trading at Rs. 183.70, down by 2.18 per cent or 4.10 per share. The 52-week high is Rs. 274 and 52-week low is Rs. 166 on BSE.