Amara Raja invests in InoBat Auto

Amara Raja Batteries Limited has announced its intention to invest in InoBat Auto, which will give Amara Raja a key foothold in the European electric vehicle ecosystem, where several battery giga factories are being installed.

Amara Raja Batteries Limited has announced its intention to invest in InoBat Auto, a European technology developer and manufacturer of batteries for electric mobility. The initial investment will give Amara Raja a key foothold in the European electric vehicle ecosystem, where several gigabyte battery factories are being installed to support the region’s determined electric vehicle push, including in the United Kingdom, which sees a growing need to meet the growing demand for electricity. Vehicles.

This investment will significantly enable Amara Raja, who laid out his ambitions in the green technology space as part of his bold “Energy and Mobility” strategy earlier this year, to access expertise that will help deploy technologies required for manufacturing batteries for E-mobility applications. The investment will open up new avenues of R&D for the company while allowing it to adapt InoBat battery technology to the markets Amara Raja already serves.

InoBat specializes in the research, development, manufacture and supply of innovative high-end electric batteries custom designed to meet the specific requirements of customers in the automotive, utility vehicle, motorsport and automotive industries. aerospace. By adopting a “cradle-to-cradle” strategy within a responsible ESG framework, InoBat aims to pilot the implementation of electric mobility solutions.

InoBat is currently developing a battery research and development center and production line in Voderady, Slovakia. The next phase of the project will focus on scaling up manufacturing across multiple gigafactories planned across Europe and around the world. It is supported by various partners including CEZ, one of the main European public services and Rio Tinto, the global mining giant, which have invested in the company.

Vikram Gourineni, Executive Director of Amara Raja Batteries, said: “We are delighted to announce our investment in InoBat. InoBat has proven its ability to develop innovative battery technologies in a short period of time. Its “cradle-to-cradle” approach supports Amara Raja’s own sustainability goals and will help reduce long-term dependence on the import of essential raw materials. “

He added: “The combination of our respective strengths will enable Amara Raja to gain a foothold in the growing global market for electric vehicles. Together we will explore future opportunities to adapt the advanced battery technology developed by InoBat to the markets served by Amara Raja. We believe that this technology can significantly move things forward and accelerate India’s ambitions for electric vehicles.

Marian Bocek, CEO of InoBat Auto, said: “Today’s announcement is strategically important for InoBat and its planned gigafactories in various regions of Europe. It shows that unique collaborative partnerships are essential to advance the adoption of electric mobility solutions globally, including in emerging markets. In addition, it paves the way for our future expansion and the application of our own “cradle to cradle” approach.

He added, “We are delighted to partner with Amara Raja, who has built a successful business and has demonstrated experience in introducing contemporary energy storage technologies over the years into emerging markets in geographic areas of. Indian Ocean. We are committed to working together to create the most efficient and economical batteries possible to help deliver a sustainable future for all. “

Financial Express is now on Telegram. Click here to join our channel and stay up to date with the latest news and updates from Biz.

Source link

Comments are closed.