Exide Technologies to Supply Batteries to REVA Electric Vehicle Project; Company Signs Agreement as Sole Battery Supplier

May 15, 2001, 01:00 ET from Exide Technologies

    BANGALORE, India, May 15 /PRNewswire/ -- Exide Technologies (NYSE:   EX),
 the global leader in stored electrical energy solutions, has signed a US
 $10 million agreement to be the sole lead-acid battery supplier for the REVA
 (Revolutionary Electric Vehicle Alternative) car-making project in Bangalore,
 India.  The Exide Technologies high-performance 3ET200 lead-acid batteries
 will be the exclusive power source for the REVA electric car, a small vehicle
 designed for navigating congested, urban streets.  The batteries will be
 manufactured in India and distributed under the Exide Technologies' Chloride
 Motive Power brand.
     REVA is a joint venture between California-based AEVT and the Maini Group
 headquartered in Bangalore.  AEVT, an electric vehicle technology company and
 experienced provider of advanced automotive technologies, first began
 developing small electric passenger vehicles in 1995 for use in India and
 elsewhere in Asia.  The Maini Group has a 27-year track record in the
 manufacture of precision auto components and of electric material-handling
 equipment.  The REVA car, to be launched in June 2001, will be India's first-
 ever electric car.  Each vehicle will be equipped with eight, 6-volt
     During the three-year contract, Exide Technologies will supply up to
 100,000 lead-acid motive-power batteries for the project.  These batteries
 will be manufactured at the company's facility in Gandhinagar, India and will
 feature Exide Technologies' tubular technology for extended deep-cycle life
 and superior shock and vibration resistance.  Batteries with tubular plates
 contain more stored energy than flat plate batteries of equal size, resulting
 in the delivery of a larger amount of consistent, reliable power.
     The service life of the 3ET200 battery delivers approximately 70 percent
 more cyclic life capability than a traditional, motive-power battery.  These
 features are especially important for the demands of EVs that require repeated
 deep discharge and recharge.
     Exide Technologies has been an active supporter of the REVA project since
 1995, providing technical assistance on advanced battery technologies.  By
 1997, Exide already had developed a 6-volt battery with thin, tubular positive
 plates which offered 25% extra capacity, lasting three times longer than the
 traditional golf-cart batteries previously used in the project.
     "We chose Exide Technologies as the primary battery supplier for the REVA
 project because of the company's experience in advanced battery-technology
 development," said Chetan Maini, managing director of the REVA Electric Car
 Company.  "Not only do Exide's 3ET200 batteries offer excellent performance,
 but they'll feature in a project that attempts to create a cleaner environment
 in India."
     Studies conducted by AEVT USA indicate that the market potential for EVs
 is highest in India, followed by China, Brazil and Mexico.  According to Neil
 Bright, president of Exide Technologies' Motive-Power Global Business Unit,
 the REVA agreement further strengthens Exide's global industrial foothold in
 high-growth markets.  "Exide Technologies' relationship with REVA reinforces
 our position in technological innovation," said Bright.  "The partnership with
 REVA offers Exide Technologies the opportunities to continue broadening its
 global industrial reach and penetrate a fast-growing, and very important
     Exide Technologies also supplies similar tubular-plate batteries as
 deployed in public electric buses in Los Angeles, California; Santa Barbara,
 California; and Chattanooga, Tennessee.
     Exide Technologies is the global leader in providing electrical energy
 storage solutions.  The company has operations in 89 countries, serving the
 industrial and transportation markets.
     Industrial applications include network-power batteries for
 telecommunications systems, fuel-cell load leveling, electric utilities,
 railroads, photovoltaic (solar-power related) and uninterruptible power supply
 (UPS) markets; and motive-power batteries for a broad range of equipment uses,
 including lift trucks, mining vehicles and commercial vehicles.
     Transportation uses include automotive, heavy-duty truck, agricultural,
 marine and other batteries, as well as new technologies being developed for
 hybrid vehicles and new 42-volt automotive applications. The company supplies
 both aftermarket and original-equipment transportation customers.
     Further information about Exide Technologies, its financial results and
 other information can be found at www.exide.com .
     Media contact:     Tim Yost, 734-827-3282; tyost@exideworld.com
     Investor contact:  Thomas J. Smith, 609-919-4946; tsmith@exideworld.com
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