Amara Raja Battery Co., Ltd., industrial and automotive battery maker, announced today its plans to invest in InoBat Auto, a European technology developer and manufacturer of innovative premium batteries for electric mobility. The initial investment will give Amara Raja an important foothold in Europe's burgeoning electric vehicle ecosystem, with the creation of several giant battery factories to support the propulsion of specific electric vehicles in the region, including the UK, which is experiencing a growing need to meet growing demand. demand for electric vehicles.
This will significantly allow Amara Raja to implement the technologies necessary to manufacture batteries for electric mobility applications. The investment will therefore open up new avenues of research and development for the company, while allowing it to adapt InoBat's highly innovative battery technology for markets already served by Amara Raja.
InoBat specializes in the research, development, manufacture and supply of innovative premium electric batteries specifically designed to meet the specific requirements of customers in the automotive, commercial vehicle, motorsports and aerospace sectors. By adopting a 'cradle to cradle' strategy within the responsible ESG framework, InoBat aims to advance the implementation of electric mobility solutions.
InoBat is currently developing a battery research and development center and production line in Voderady, Slovakia. The next phase of the project will focus on expanding manufacturing through a series of planned mega-factories in Europe and the world. It is backed by a powerful consortium of partners, including CEZ, one of Europe's leading utilities, and Rio Tinto, the global mining giant, who have invested in the company.
Vikram Gorinini, Executive Director of Amara Raja Batteries, said: “We are very pleased to announce our investment in InoBat. InoBat has proven its ability to develop innovative battery technologies in a short period of time. Its 'cradle-to-cradle' approach supports Amara Raja's own sustainability goals and will help reduce long-term dependence on imported critical raw materials. "
"The combination of our strengths will give the Raja architecture a foothold in the burgeoning global electric vehicle market. Together we will explore future opportunities to adapt the advanced battery technology developed by InoBat for the markets served by Amara Raja. We believe this is Needle technology can move significantly and accelerates India’s own EV ambitions," he added.