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Amara Raja Advanced Cell Technologies (ARACT), an arm of Amara Raja Energy & Mobility (ARE&M), has signed a technical licensing agreement with GIB EnergyX Slovakia s.r.o., a subsidiary of Gotion High-Tech Co Ltd.
As part of the agreement GIB EnergyX will license Gotion’s world class LFP technology for lithium-ion cells to ARACT.
“We are very excited to announce our deepening partnership with Gotion and InoBat. “We are sure that this partnership will help us accelerate our efforts in establishing the Amara Raja Giga Corridor while Gotion’s acumen lends significant customer credibility to our venture,’‘ Vikramadithya Gourineni, Executive Director, ARE&M said in a release on Monday.
Jayadev Galla, Chairman & Managing Director, ARE&M said: “We firmly believe that India will be one of the fastest growing EV markets, and that Gotion’s globally proven technology coupled with our three decades of expertise in the energy and mobility space will be a winning combination,’‘
According to Steven Cai, Chairman, GIB EnergyX and Director, Gotion HighTech Co India is an `exciting market’ with significant growth potential. “Gotion has built strong competitive position with its product technology and Gigafactory manufacturing expertise over the years and continues to offer innovative solutions across the New Energy value chain. We are pleased with the partnership with Amara Raja to offer our LFP technology,’‘ he added,
The agreement enables Amara Raja to manufacture world class LFP cells in both cylindrical and prismatic form factors. The scope of licensing provides access to cell technology IP, support in establishing Gigafactory facilities conforming to latest generation process technologies, integration with Gotion’s global supply chain network for critical battery materials, and customer technical support for solution deployment.
The technology transfer and service support will fully complement Amara Raja’s efforts to operationalize its Gigafactory manufacturing capacities and its advanced research and innovation centre, ‘ePositive Energy Labs’, that aims to lead India’s R&D capabilities in this field.
Amara Raja Energy & Mobility’s shares rallied 16.59 per cent on the NSE to trade at ₹1,609 as of 12.06 pm. The stock has hit a new high, at ₹1,656.05 today.
On the BSE, the stock hit a 52-week high at ₹1,655.20. As of 12.2 pm, it surged 16.42 per cent to trade at ₹1,605.85.
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