Ather Energy and Amara Raja Partner To Supply Battery Cells

CIOTechOutlook Team | Thursday, 01 August 2024, 10:41 IST

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Ather Energy has agreed to a partnership with Amara Raja Advanced Cell Technologies to work on creating and distributing NMC and LFP Lithium-Ion cells along with other advanced chemistry cells. Both companies will concentrate on creating market-appropriate solutions to advance India's efforts to localize Electric Vehicle technologies, as per press release.
 
Amara Raja Energy and Mobility announced in a filing that they purchased a stake worth Rs 170 crore (20 million euros) in the Norwegian battery manufacturing company InoBat AS during the month of June.
 
The company notified the stock markets that it is purchasing approximately 4.5 per cent ownership in InoBat AS, resulting in its stake increasing to 9.32 per cent post acquisition. The objective was to improve its ability in making custom batteries for electric vehicles to meet the needs of various industries, and it has experienced considerable growth lately.
 
Reacting to the development, Tarun Mehta, Co-founder and CEO at Ather Energy, said, "We're taking a significant step forward by promoting homegrown cell technology. This will help us optimise costs and enable us to source lithium-ion cells tailored to Ather's specific requirements, further enhancing our ability to innovate and scale efficiently. Our aim is to help the domestic industry grow significantly to support India's energy demand now and in the coming future."
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