Battery manufacturer Amara Raja Energy & Mobility (ARE&M) has invested 20 million euros, including a subscription for an additional 4.5% equity stake, in InoBat AS.
After this investment, ARE&M’s total holding in InoBat AS will be around 9.32%. It earlier invested 10 m euros.
The Slovak company InoBat specialises in the research, development, and production of batteries for electric vehicles custom-designed to meet the specific requirements of global mainstream and specialist OEMs in the automotive, commercial vehicle, motorsport, and aerospace sectors.
“Our investment in InoBat underscores our commitment to being at the forefront of the energy revolution. InoBat’s innovative approach to battery technology complements our mission to deliver sustainable and cutting-edge energy solutions,” said Vikramadithya Gourineni, Executive Director of Amara Raja.