Tirupati, December 29, 2021: Amara Raja Batteries Restricted (“Amara Raja” or “the Firm”), India’s main industrial and automotive battery main, as we speak introduced plans to spend money on InoBat Auto (“InoBat”), a European expertise developer and producer of premium progressive batteries for E-mobility.
The preliminary funding will give Amara Raja a key foothold within the thriving European EV ecosystem, the place a number of battery gigafactories are being set as much as assist the area’s decided EV push, together with within the UK, which is seeing a rising want to deal with rising demand for electrical autos.
This strategic step will considerably allow Amara Raja, which laid out its ambitions within the inexperienced expertise house as a part of its daring ‘Vitality and Mobility’ technique earlier this 12 months, entry experience that can assist deploy the required applied sciences for the manufacture of batteries for E-Mobility purposes. The funding thereby will open new R&D avenues for the Firm whereas permitting it to adapt InoBat’s extremely progressive battery expertise to the markets that Amara Raja already serves.
InoBat specialises within the pioneering analysis, growth, manufacture, and provision of premium progressive electrical batteries custom-designed to satisfy the precise necessities of consumers throughout the automotive, industrial automobile, motorsport, and aerospace sectors. By adopting a “cradle-to-cradle” technique inside a accountable ESG body work, InoBat goals to drive the implementation of electrical mobility options.
InoBat is at the moment growing a battery analysis and growth centre and manufacturing line in Voderady, Slovakia. The following part of the mission will give attention to a producing scale-up by quite a few gigafactories deliberate throughout Europe and globally. It’s backed by a robust consortium of companions, together with CEZ, one of many main European Utilities and Rio Tinto, the worldwide mining big, who’ve made an funding within the firm.
Vikram Gourineni, Govt Director, Amara Raja Batteries mentioned, “We’re excited to announce our funding in InoBat. InoBat has confirmed its functionality to develop progressive battery applied sciences in a brief span of time. Its “cradle-to-cradle” method helps Amara Raja’s personal objectives on sustainability and can assist to taper long-term dependence on the import of vital uncooked supplies. Combining our respective strengths will give Amara Raja a foothold within the booming international EV market. We are going to collectively discover future alternatives collectively to adapt the superior battery expertise developed by InoBat for markets served by Amara Raja. We consider this expertise can considerably transfer the needle and speed up India’s personal EV ambitions.”
Marian Bocek, Chief Govt Officer of InoBat Auto mentioned, “Right now’s announcement is strategically necessary for InoBat and its deliberate gigafactories throughout varied elements of Europe. It exhibits that distinctive collaborative partnerships are very important for driving ahead the uptake of E-mobility options globally, together with the rising markets. Moreover, it paves the best way for our additional growth and the appliance of our personal “cradle-to-cradle” method. We’re delighted to be partnering with Amara Raja, who’ve constructed profitable enterprise and demonstrated expertise of introducing modern vitality storage applied sciences through the years in rising markets throughout Indian Ocean Rim geographies. We’re dedicated to work collectively to create essentially the most environment friendly, finest worth batteries doable to assist ship a sustainable future for all.”
About Amara Raja Batteries Restricted
Amara Raja Batteries Restricted is an Vitality and Mobility enterprise and one of many largest producers of vitality storage merchandise for each industrial and automotive purposes within the Indian battery trade.
In India, Amara Raja is the popular provider to main telecom service suppliers, Telecom gear producers, the UPS sector (OEM & Alternative), Indian Railways and to the Energy, Oil & Fuel, amongst different trade segments. Amara Raja’s industrial battery manufacturers comprise PowerStack®, AmaronVolt® and Quanta®. The Firm is a number one producer of automotive batteries underneath the manufacturers Amaron® and PowerzoneTM, that are distributed by a big Pan-India gross sales & service retail community.
The Firm provides automotive batteries underneath OE relationships to Ashok Leyland, Ford India, Honda, Hyundai, Mahindra & Mahindra, Maruti Suzuki, and Tata Motors. The Firm’s Industrial and Automotive Batteries are exported to international locations within the Indian Ocean Rim.
About InoBat Auto
InoBat Auto specialises within the pioneering analysis, growth, manufacture, and provision of premium progressive electrical batteries custom-designed to satisfy the precise necessities of world mainstream and specialist OEMs throughout the automotive, industrial automobile, motorsport, and aerospace sectors. A European primarily based battery producer, InoBat already has a battery analysis and growth facility and pilot line underneath growth in Slovakia. InoBat is backed by a robust consortium of buyers and expertise corporations, together with strategic buyers and companions comparable to Rio Tinto, CEZ, IPM, Matador, AEN, CSG, MSM Group, and Throughout. InoBat has additionally been accepted for grant financing underneath the EU sponsored programme, Necessary Initiatives for Widespread European Curiosity, and already acquired a grant from the Slovak Authorities.