This Indian auto battery major to invest in Europe-based InoBat for e-mobility
Automotive battery major Amara Raja Batteries Limited on Wednesday announced plans to invest in European battery manufacturer InoBat Auto to propel the shift towards electric mobility. The investment will give the former an access to the thriving European EV ecosystem where multiple battery gigafactories are being set.
Through the initial investment, Amara Raja will be able to gain access to InoBat’s innovative battery technology and use them in the markets that the former already serves in.
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The company will also be able to open new R&D avenues for required technologies to manufacture batteries for e-mobility applications. “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 specialises in research, development, manufacturing, and provision of premium electric batteries that are custom-designed for specific requirements within automotive, commercial vehicle, motorsport, and aerospace sectors. The company uses a ‘cradle-to-cradle’ strategy within an ESG frame work to drive the implementation of electric mobility solutions.
The company is currently working on a battery research and development centre and production line in Voderady, Slovakia. In the next phase of the project, it will focus on scaling up the manufacturing operations through a number of gigafactories that it has planned across Europe and the world.