Amara Raja Batteries Ltd (ARBL) has announced that it has incorporated a new subsidiary to engage in the business of manufacturing of lithium-iron cells.
In a release, ARBL said that the company’s board meeting of November 3, 2022, approved the incorporation of a wholly-owned subsidiary that will set up a multi-GWh lithium-ion cell manufacturing facility whose location is under finalization.
“This move allows us to expand Lithium business in a dedicated manner while setting the ground for larger investments and technical collaborations. We are in the process of finalizing the location for this investment and should be able to confirm soon,” said Vikramadithya Gourineni, Executive Director, New Energy Business, ARBL.
Clear roadmap
Speaking on this development, Jayadev Galla, Chairman & Managing Director, ARBL, noted, “Amara Raja has been setting the standards in battery technology for over three decades and we are confident that Li-Ion will be no different. We have articulated a clear roadmap for building technology capabilities, investments in R&D and for establishing giga capacities. The subsidiary will bring in the required focus and house the New Energy investments. We remain committed to growing both our Lead Acid and New Energy businesses.”
Industrial batteries on upswing
Meanwhile, during the second quarter (July to September) of FY23, industrial battery volumes continued their upswing, especially in the telecom segment driven by 5G rollout preparations in India. Harshavardhana Gourineni, Executive Director – Automotive & Industrial Business, said “We have rebounded from the cost pressures of the previous quarters and have grown the business across verticals. We are optimistic that the economic drivers will remain stable in the near future.”
Also read: Amara Raja Batteries: APPCB Orders Immediate Closure Of Two Units
Integrated ecosystem
The proposed subsidiary is part of the Energy & Mobility strategy announced by the company last year, Amara Raja Batteries Ltd has been at the forefront of establishing the domestic manufacturing ecosystem for advanced energy storage technologies, including Li-ion cells and packs for e-mobility and stationary energy storage applications, the company release added.
Featured photograph shows a manufacturing facility of Amara Raja Batteries Ltd, and is for representation only
