Hyderabad (Telangana) [India], August 10 : Amara Raja has signed a Memorandum of Understanding (MoU) with Italian motor vehicle manufacturer Piaggio India to develop and supply LFP (Lithium Iron Phosphate) Lithium-Ion (Li-ion) cells and chargers for its electric vehicles, the company said in its stock market filing on Saturday.
As part of this agreement, the company will collaborate with Piaggio Vehicles to develop and supply LFP (Lithium Iron Phosphate) Lithium-Ion (Li-ion) cells and chargers for its EV 3 Wheelers, along with developing cells and battery packs for their upcoming 2-Wheeler offerings, produced locally, the comapny said in the filing statement.
The company held a grand groundbreaking ceremony for their Customer Qualification Plant (CQP) for cell manufacturing and the foundation stone-laying ceremony at Divitipally, Mahabubnagar district.
It inaugurated phase 1 of the battery pack plant with a current capacity of 1.5 GWh. As per the details in the filing, the plant makes Li-ion battery packs specifically suited for Indian conditions and will be supplying to major EV OEMs along with being used for stationery energy storage requirements.
In addition, the company said that the CQP will be operational by Q1 of the next financial year, can produce various cell types for customer testing and validation.
The project recently received a fillip after ARE&M's collaboration with Gotion Inobat (GIB) for technology, manufacturing and customised solutions, the statement added.
"We anticipate this initiative will play a crucial role in advancing India's energy transition. Having always been pioneers in adopting new technologies, we take great pride in establishing world-class manufacturing units. The CQP is the first of its kind in India and will help us develop the perfect cell chemistry for each customer's requirements," added Vikramadithya Gourineni, Executive Director, ARE&M.
Recently, Amara Raja Advanced Cell Technologies (ARACT) signed an MoU with the electric vehicle manufacturer Ather Energy.
The aim of the collaboration was to focus on building market-relevant solutions in India's journey towards the indigenisation of Electric Vehicle technologies.
In June, Amara Raja Energy and Mobility acquired a Rs 170 crore (20 million euros) stake in Norwegian battery manufacturing company InoBat AS, the company informed the exchange in a filing.
The company acquired around 4.5 per cent stake in InoBat AS and after the acquisition, the stake of the company will increase to 9.32 per cent.
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