Amara Raja Batteries to invest in Europe-based InoBat for e-mobility

Amara Raja Batteries Limited today announced plans to invest in InoBat Auto, a European technology developer and manufacturer of premium innovative batteries, for e-mobility.

By adopting a “cradle-tocradle” strategy within a responsible ESG frame work, InoBat aims to drive the implementation of electric mobility solutions. Pic: https://www.amararaja.com/, https://inobatauto.eu/

Amara Raja Batteries Limited today announced plans to invest in InoBat Auto, a European technology developer and manufacturer of premium innovative batteries, for e-mobility.

The initial investment will give Amara Raja a key foothold in the thriving European EV ecosystem, where multiple battery gigafactories are being set up to support the region’s determined EV push, including in the UK, which is seeing a rising need to address increasing demand for electric vehicles.

This strategic step will significantly enable Amara Raja, which laid out its ambitions in the green technology space as part of its bold ‘Energy and Mobility’ strategy earlier this year, access expertise that will help deploy the required technologies for the manufacture of batteries for E-Mobility applications.

TRENDING NOW

The investment thereby will open new R&D avenues for the Company while allowing it to adapt InoBat’s highly innovative battery technology to the markets that Amara Raja already serves. InoBat specialises in the pioneering research, development, manufacture, and provision of premium innovative electric batteries custom-designed to meet the specific requirements of customers within the automotive, commercial vehicle, motorsport, and aerospace sectors.

By adopting a “cradle-tocradle” strategy within a responsible ESG frame work, InoBat aims to drive the implementation of electric mobility solutions.

InoBat is currently developing a battery research and development centre and production line in Voderady, Slovakia. The next phase of the project will focus on a manufacturing scale-up through a number of gigafactories planned across Europe and globally. It is backed by a strong consortium of partners, including CEZ, one of the major European Utilities and Rio Tinto, the global mining giant, who have made an investment in the company.

Vikram Gourineni, Executive Director, Amara Raja Batteries said, “We are excited to announce our investment in InoBat. InoBat has proven its capability to develop innovative battery technologies in a short span. 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."

He futher said: "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.”

TAGS:

Automobile