Industrial and automotive battery major Amara Raja Batteries announced its plans to invest in European e-mobility batteries manufacturer and technology developer InoBat Auto. The investment will provide Amara Raja a foothold in the EV ecosystem that is seeing multiple battery gigafactories being set up amid a rising demand for electric vehicles.
This investment is in line with Amara Raja’s ambitions in the green technology space as part of its ‘Energy and Mobility’ strategy laid out earlier this year. It will also get access to expertise that will help deploy required technologies for manufacturing of batteries in e-mobility applications.
Amara Raja will additionally witness new R&D avenues as well as adapt InoBat’s innovative battery technology to its markets, the company mentioned in a statement.
“InoBat has proven its capability to develop innovative battery technologies in a short span of time. Its “cradle-to-cradle” approach supports Amara Raja's own goals on sustainability and will help to taper long-term dependence on the import of critical raw materials. Combining our respective strengths will give Amara Raja a foothold in the booming global EV market. We will jointly explore future opportunities together to adapt the advanced battery technology developed by InoBat for markets served by Amara Raja. We believe this technology can significantly move the needle and accelerate India’s own EV ambitions,” said Vikram Gourineni, Executive Director, Amara Raja Batteries.
InoBat CEO Marian Bocek also stated that the investment will pave the way for the further expansion and application of their “cradle-to-cradle” approach.
InoBat’s ‘cradle-to-cradle’ approach aims to drive the implementation of electric mobility solutions. It specialises in research, development, manufacture, and provision of premium innovative electric batteries custom-designed for the automotive, commercial vehicle, motorsport, and aerospace sectors. InoBat is currently developing a battery research and development centre and production line in Voderady, Slovakia.
Amara Raja, the parent of PowerStack, AmaronVolt and Quanta battery brands, supplies automotive batteries to companies like Ashok Leyland, Ford India, Honda, Hyundai, Mahindra & Mahindra, Maruti Suzuki, and Tata Motors.
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