Amara Raja batteries is investing 10 mn euros in europan market. The invest will be diverted to InoBat Auto, a European group which is focused on research and development of batteries.

The company works in electric vehicle and also focus on lithium ion batteries. The company also provides custom and tailored cell according to the customer need and use. This investment will forey the Amara Raja Group in new green technology and solution.

The investment is 0.004 per cent equity stake in InoBat Auto AS. This investment enables Amara group to thrive in European ecosystem. Specifically, the investment will give access expertise that will help deploy the required technologies for manufacture of batteries for E-Mobility applications.

The investment will open new R&D avenues for the company while allowing it to adapt InoBat’s highly innovative battery technology to the markets that Amara Raja already serves.

InoBat is developing a battery R&D production line in Voderady, Slovakia. The next phase of its project will focus on a manufacturing scale-up through a number of gigafactories planned across Europe and globally. It is backed by a strong consortium of partners, including CEZ, one of the major European Utilities and Rio Tinto, the global mining giant, who have made an investment in the company.