Amara Raja Batteries India’s main battery maker plans to take a position €10 million in InoBat Auto a Europe based mostly expertise developer and producer of premium batteries for electrical autos. The funding will give Amara Raja a foothold within the European EV ecosystem the place a number of battery gigafactories are being set as much as help. Learn additional to know extra about Amara Raja invests €10 million.
“Combining our respective strengths will give Amara Raja a foothold within the booming international EV market,” Amara Raja Batteries Govt Director Vikram Gourineni mentioned.
“InoBat has confirmed its functionality to develop progressive battery applied sciences in a brief span of time. Its “cradle-to-cradle” strategy helps Amara Raja’s personal targets on sustainability and can assist to taper long-term dependence on the import of essential uncooked supplies.”
“Combining our respective strengths will give Amara Raja a foothold within the booming international EV market. We’ll 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,” mentioned Vikram Gourineni.
In August, Log 9 Supplies a Bengaluru based mostly EV battery-tech startup had raised $8.5 million (Rs 63 crore) in its ongoing Collection A+ funding spherical led by Amara Raja Batteries. India’s main battery producer Amara Raja has invested $5 million and others $3.5 million.
Amara Raja, Log 9 has additionally acquired funding from current traders together with Exfinity Ventures and Sequoia Capital India’s Surge Programme. Altogether, the prevailing and the brand new traders have invested round $8.5 million within the ongoing $10-12 million Collection A+ spherical.
Bipolar battery expertise
Amara Raja Batteries had partnered with Gridtential Power for bipolar battery expertise. The Gridtential Power is the inventor of the silicon joule bipolar battery expertise which has twin advantages reminiscent of conventional lead-acid batteries efficiency and the life cycle of lithium-ion batteries.
The partnership will assemble and check reference batteries utilizing Amara Raja’s lively materials and work on the enhancements of their life cycle, power density, effectivity, charging charges, and manufacturability.
The Gridtential will present non-exclusive licenses for its silicon joule expertise to the manufacturing companions to undertake the services to offer high-performance batteries reminiscent of 24V and 48V batteries for hybrid automotive, power storage programs, residence backup markets and low-speed electrical autos.
Fleet of e-Autos in Tirupati
In 2019 Amara Raja had put in EV battery charging and swapping stations additionally launched a fleet of e-Autos in Tirupati. The launch of this initiative is in collaboration with the Tirupati Municipal Company as a part of its sensible metropolis program.
The battery packs of lithium-ion and EV battery charging stations and swapping stations are designed within the state-of-the-art R&D services of Amara Raja. The corporate added a Lithium-Ion battery pack manufacturing facility of 500MWH capability at its Tirupati manufacturing unit.
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