Amara Raja Energy & Mobility Boosts Investment in InoBat AS to Strengthen Electric Vehicle Battery Technology

India’s leading battery manufacturer increases its equity stake to 9.32%, enhancing its commitment to sustainable energy solutions and electric vehicle battery technology

Amara Raja Energy & Mobility (ARE&M), homegrown battery manufacturer, has announced a significant investment of EUR 20 million to increase its equity stake in InoBat AS, a Slovak company specializing in electric vehicle batteries. This investment, which includes a subscription for an additional 4.5% equity stake, raises Amara Raja’s total holding in InoBat AS to approximately 9.32%.

InoBat AS, based in Norway, has garnered attention for its cutting-edge research, development, and production of custom-designed batteries tailored to meet the needs of various global automotive, commercial vehicle, motorsport, and aerospace sectors. The company has shown remarkable growth, making it an attractive partner for firms invested in sustainable mobility solutions.

This latest financial commitment from Amara Raja underscores the company’s dedication to pioneering sustainable energy advancements and expanding its influence in the global energy and mobility sectors. Aligning with Amara Raja’s vision for a greener future, InoBat’s advanced battery technology and manufacturing capabilities will play a crucial role. The investment also coincides with Amara Raja’s ongoing project to establish one of India’s largest gigafactories for Li-ion cell and battery pack manufacturing, with the first phase expected to be operational within the year.

Vikramadithya Gourineni, Executive Director of Amara Raja, emphasized the strategic importance of this investment. “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. Together, we aim to accelerate the transition to electric mobility and contribute significantly to global sustainability goals.”

This move by Amara Raja highlights its proactive approach to integrating advanced technologies and sustainable practices, reinforcing its role as a leader in the evolving energy and mobility landscape.