Amara Raja Energy Boosts Stake in InoBat: A Step Towards Sustainable Mobility

Amara Raja Energy & Mobility has increased its stake in the electric vehicle battery maker InoBat by acquiring an additional 4.5% for 20 million euros. This investment highlights the company's dedication to fostering sustainable energy solutions and enhancing its position in the energy and mobility sector.

Amara Raja Energy & Mobility announced on Thursday that it has acquired an additional 4.5% stake in electric vehicle battery maker InoBat for 20 million euros (approximately Rs 180 crore).

Following this latest investment, the company's total holding in InoBat AS will rise to approximately 9.32%, inclusive of a prior investment of 10 million euros, Amara Raja Energy & Mobility Ltd stated.

Amara Raja's Executive Director Vikramadithya Gourineni emphasized that this investment underscores their commitment to leading the energy revolution. 'InoBat's innovative approach to battery technology aligns with our mission of delivering sustainable and advanced energy solutions,' he said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)