India’s top industrial and automotive battery company, Amara Raja Batteries Limited (ARBL), announced plans to invest in InoBat Auto, a European technology developer and manufacturer of premium revolutionary batteries for E-mobility.
The initial investment will give Tirupati-based Amara Raja Batteries a key foothold in the thriving European EV ecosystem, where multiple battery gigafactories are being built to support the region’s determined EV push, including in the United Kingdom, which is seeing a rising need to address the increasing demand for electric vehicles, according to a release.
This strategic move will provide Amara Raja, which announced its green technology goals earlier this year as part of its audacious ‘Energy and Mobility’ plan, access to knowledge that will help implement the essential technologies for the fabrication of batteries for E-Mobility applications.
As a result of the investment, the Company will be able to pursue new R&D opportunities while also adapting InoBat’s cutting-edge battery technology to the markets that Amara Raja already serves.
InoBat specialises in cutting-edge research, development, manufacturing, and distribution of premium revolutionary electric batteries that are custom-designed to fulfil the needs of clients in the automotive, commercial vehicle, racing, and aerospace industries.
InoBat intends to accelerate the adoption of electric mobility solutions by implementing a “cradle-to-cradle” approach within a responsible ESG framework.
InoBat is currently constructing a battery research and development centre in Voderady, Slovakia, as well as a production line. The project’s next phase will focus on manufacturing scale-up via a number of gigafactories planned across Europe and around the world.
ARBL Executive Director Vikram Gourineni, said, “We are excited to announce our investment in InoBat. InoBat has proven its capability to develop innovative battery technologies in a short span of time.
Combining our respective strengths will give Amara Raja a foothold in the booming global EV market. We will jointly explore future opportunities together to adapt the advanced battery technology developed by InoBat for markets served by Amara Raja. We believe this technology can significantly move the needle and accelerate India’s own EV ambitions.”
InoBat Auto Chief Executive Officer Marian Bocek, said, “Today’s announcement is strategically important for InoBat and its planned gigafactories across various parts of Europe. It shows that unique collaborative partnerships are vital for driving forward the uptake of E-mobility solutions globally, including the emerging markets.
We are delighted to be partnering with Amara Raja, who has built a successful business and demonstrated experience of introducing contemporary energy storage technologies over the years in emerging markets across Indian Ocean Rim geographies.”
“We are committed to working together to create the most efficient, best value batteries possible to help deliver a sustainable future for all”, Mr Bocek added.
