New Delhi, Amara Raja Energy & Mobility on Thursday said it has acquired an additional 4.5 per cent stake in electric vehicle battery maker Innobat for 20 million euros (about Rs 180 crore).
Amara Raja Energy & Mobility Ltd. said in a statement that with the latest investment, the company's total stake will be approximately 9.32 percent of its equity stake in Innobat AS, which also includes a previous investment of 10 million euros.
Vikramaditya Gourineni, Executive Director, Amara Raja, said, “Our investment in Innobat underlines our commitment to be at the forefront of the energy revolution. Innobat's innovative approach to battery technology complements our mission of delivering sustainable and cutting-edge energy solutions "
Slovakia-based Innobat engages in the research, development and production of batteries for custom-designed electric vehicles to meet the specific requirements of global mainstream and specialist original equipment manufacturers (OEMs) within the automotive, commercial vehicle, motorsport and aerospace sectors. Is expert. The statement said.
The company said this investment is an important step in Amara Raja's ongoing commitment to pursue sustainable energy solutions and increase its footprint in the energy and mobility sector.
Amara Raja Energy & Mobility Ltd. said in a statement that with the latest investment, the company's total stake will be approximately 9.32 percent of its equity stake in Innobat AS, which also includes a previous investment of 10 million euros.
Vikramaditya Gourineni, Executive Director, Amara Raja, said, “Our investment in Innobat underlines our commitment to be at the forefront of the energy revolution. Innobat's innovative approach to battery technology complements our mission of delivering sustainable and cutting-edge energy solutions "
Slovakia-based Innobat engages in the research, development and production of batteries for custom-designed electric vehicles to meet the specific requirements of global mainstream and specialist original equipment manufacturers (OEMs) within the automotive, commercial vehicle, motorsport and aerospace sectors. Is expert. The statement said.
The company said this investment is an important step in Amara Raja's ongoing commitment to pursue sustainable energy solutions and increase its footprint in the energy and mobility sector.
