Amara Raja will increase stake in InoBat with €20 million funding

Battery producer Amara Raja Power & Mobility (ARE&M) has invested 20 million euros, together with a subscription for a further 4.5% fairness stake, in InoBat AS.

After this funding, ARE&M’s complete holding in InoBat AS will probably be round 9.32%. It earlier invested 10 m euros. 

The Slovak firm InoBat specialises within the analysis, growth, and manufacturing of batteries for electrical autos custom-designed to fulfill the precise necessities of world mainstream and specialist OEMs within the automotive, industrial automobile, motorsport, and aerospace sectors.

“Our funding in InoBat underscores our dedication to being on the forefront of the vitality revolution. InoBat’s progressive method to battery expertise enhances our mission to ship sustainable and cutting-edge vitality options,” stated Vikramadithya Gourineni, Government Director of Amara Raja.