Amara Raja Energy & Mobility increases stake in InoBat for 20 mn Euros – ET Auto

baua

Amara Raja Energy & Mobility increases stake in InoBat for 20 mn Euros – ET Auto


The latest investment is a significant step for Amara Raja as it continues to advance sustainable energy solutions and expand its presence in the energy and mobility sector.

Amara Raja Energy & Mobility announced on Thursday that it has acquired an additional 4.5% stake in electric vehicle battery manufacturer InoBat for 20 million euros (approximately INR 180 crore). This brings Amara Raja’s total holding in InoBat to around 9.32%, including a previous investment of 10 million euros.

“Our investment in InoBat underscores our commitment to being at the forefront of the energy revolution. InoBat’s innovative approach to battery technology complements our mission to deliver sustainable and cutting-edge energy solutions,” said Amara Raja Executive Director Vikramadithya Gourineni.

InoBat, based in Slovakia, is known for its research, development, and production of batteries for electric vehicles. The company specializes in creating custom-designed batteries tailored to meet the specific requirements of global mainstream and specialist original equipment manufacturers (OEMs). These tailored solutions cater to sectors such as automotive, commercial vehicles, motorsport, and aerospace.

The latest investment is a significant step for Amara Raja as it continues to advance sustainable energy solutions and expand its presence in the energy and mobility sector. The company reiterated its commitment to enhancing its footprint within this industry through strategic investments.

  • Published On Jun 21, 2024 at 07:55 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETAuto App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App


Download Eaton’s 2024 eMobility technology guide – Charged EVs

Sponsored by Eaton. Revolutionizing the journey to safe, reliable and efficient EVs In the fast-paced…

ExxonMobil signs lithium offtake agreement with SK On – Charged EVs

Oil companies getting involved in lithium production? Yes. Global EV battery manufacturer SK On has…

SSE installs EV charging hub in Scotland with 24 charging bays – Charged EVs

Scotland-headquarted energy company SSE has opened its Myrekirk Roundabout EV charging hub near Dundee. The…