Amara Raja Energy & Mobility (ARE&M), India’s leading battery manufacturer, has invested an additional € 20 million in InoBat AS, a Norwegian company specialising in advanced battery technology. This investment includes a subscription for an additional 4.5% equity stake in InoBat, bringing Amara Raja's total holding to approximately 9.32% following its previous investment of € 10 million.
InoBat, based in Slovakia, is renowned for its research, development, and production of custom-designed batteries for electric vehicles. The company's products cater to the specific needs of global mainstream and specialist OEMs in the automotive, commercial vehicle, motorsport, and aerospace sectors. InoBat has demonstrated significant growth, establishing itself as a leader in the industry.
InoBat’s cutting-edge battery technology and advanced manufacturing capabilities align with Amara Raja’s vision of a greener, more sustainable future. As part of this vision, Amara Raja is setting up one of India’s largest gigafactories for Li-ion cell and battery pack manufacturing, with the first phase scheduled to be operational this year.
Vikramadithya Gourineni, Executive Director of Amara Raja, stated, ' Together, we aim to accelerate the transition to electric mobility and contribute significantly to global sustainability goals.'
Amara Raja’s enhanced investment in InoBat represents a strategic move to support the development of next-generation battery technologies, reinforcing its position as a key player in the global energy and mobility market.
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