In Short:
Battery manufacturer Amara Raja Energy & Mobility has invested 20 million euros in InoBat AS, now owning around 9.32% stake. InoBat specializes in custom-designed batteries for electric vehicles. The investment shows commitment to sustainable energy solutions. Vikramadithya Gourineni, Executive Director of Amara Raja, praises InoBat’s innovative battery technology. This investment aligns with Amara Raja’s mission to lead the energy revolution.
Amara Raja Energy & Mobility Invests 20 Million Euros in InoBat AS
Exciting news alert! Battery manufacturer Amara Raja Energy & Mobility (ARE&M) has made a hefty investment of 20 million euros in InoBat AS. This investment includes a subscription for an additional 4.5% equity stake in the company.
Increasing Stake
With this latest investment, ARE&M’s total holding in InoBat AS will be around 9.32%. They had previously invested 10 million euros in the Slovak company.
About InoBat AS
InoBat AS is a rising star in the battery industry, specializing in the research, development, and production of custom-designed batteries for electric vehicles. These batteries are tailored to meet the specific requirements of global mainstream and specialist Original Equipment Manufacturers (OEMs) in sectors such as automotive, commercial vehicle, motorsport, and aerospace.
Commitment to Innovation
According to Vikramadithya Gourineni, Executive Director of Amara Raja, this investment in InoBat reflects their dedication to being at the forefront of the energy revolution. He highlighted InoBat’s innovative approach to battery technology, which aligns perfectly with ARE&M’s mission to provide sustainable and cutting-edge energy solutions.
