New Delhi: Amara Raja Binders Ltd said on Friday said it intends to invest Rs 9,500 crore within the next 10 years in Telangana to set up research and manufacturing facilities for the manufacture of lithium-ion batteries in the state. The company signed a memorandum of understanding with the Telangana government on Friday to set up research and manufacturing facilities to manufacture lithium-ion batteries in Mahbubnagar district, Amara Raja Batteries said in a regulatory filing.
It added, “Over the next ten years, the company intends to invest more than 9.5 billion rupees, after the necessary approvals.”
Initial facilities would include an energy and innovation research center in Hyderabad, called the Amara Raja E-hub. The company said it will be equipped with advanced laboratories and testing infrastructure for materials research, prototyping, product life-cycle analysis and proof-of-concept.
“This will cater the development needs of Amara Raja, as well as provide a range of facilities that are open to other players in the energy and mobility ecosystem,” the bid added.
Chairman and CEO of Amara Raja Batteries, Jayadev Galla, said the strategic partnership with the Government of Telangana will boost innovations in sustainable technologies for the entire region, as well as create job opportunities.
"We have a long association with the country and are excited to finally have the opportunity to establish an industrial base here," he added.
The company also said that as part of its journey towards giga-scale manufacturing of its advanced cell technology products, it will set up a commercial-scale pilot plant and its first giga scale cell production facility.
Amara Raja said it is working on lithium-ion cell chemistries specifically suited to conditions in the Indian subcontinent, and is already supplying lithium battery packs and chargers to some two- and three-wheeler original equipment manufacturers (OEMs).