Amara Raja Energy & Mobility announced on Thursday that it has acquired an additional 4.5% stake in InoBat, an electric vehicle battery manufacturer, for 20 million euros (approximately Rs 180 crore). This new investment raises the company’s total holding to about 9.32% of InoBat AS, including a previous investment of 10 million euros.
“This investment in InoBat highlights our dedication to leading the energy revolution. InoBat’s innovative battery technology aligns with our mission to provide sustainable and advanced energy solutions,” stated Vikramadithya Gourineni, Executive Director of Amara Raja.
InoBat, based in Slovakia, focuses on the research, development, and production of custom-designed batteries for electric vehicles, catering to the specific needs of global mainstream and specialist original equipment manufacturers (OEMs) in the automotive, motorsport, commercial vehicle, and aerospace sectors.
This investment represents a significant step in Amara Raja’s ongoing commitment to promoting sustainable energy solutions and expanding its presence in the energy and mobility sector, according to the company statement.
