Amara Raja Energy & Mobility (ARE&M), a top battery maker in India, has invested 20 million euros in InoBat AS, a Norwegian battery tech company. This investment increases Amara Raja’s stake in InoBat to about 9.32%. They previously invested 10 million euros.
InoBat, based in Slovakia, focuses on creating and making batteries for electric vehicles. Their batteries are designed for global automotive, commercial vehicles, motorsport, and aerospace industries. InoBat has been growing rapidly.
This investment is a big step for Amara Raja in promoting sustainable energy and expanding in the energy and mobility sector. InoBat’s advanced battery technology fits well with Amara Raja’s goal of a greener future. Amara Raja is also building one of India’s largest factories for Li-ion cell and battery pack manufacturing, set to start this year.
Vikramadithya Gourineni, Executive Director of Amara Raja, said, “Our investment in InoBat shows our dedication to leading the energy revolution. InoBat’s innovative battery technology supports our mission to provide sustainable and advanced energy solutions. Together, we aim to speed up the move to electric mobility and help global sustainability.”
Amara Raja Energy & Mobility Limited offers various products and solutions, including energy storage, Lithium-ion cell manufacturing, EV chargers, battery pack assembly, automotive and industrial lubricants, and new battery chemistries.
