Amara Raja Energy & Mobility to further invest EURO 20 mn in InoBat

21-Jun-24   09:54 Hrs IST
Amara Raja Energy & Mobility has agreed to further invest in securities of InoBat AS, (formerly known as InoBat Auto AS) Oslo Norway (InoBat) (holding company of InoBat Auto JSA, Banska Bystrica, Slovak Republic) and has executed the necessary 'Transaction Documents' on 20 June 2024, with InoBat.

InoBat specializes in the pioneering research, development, manufacture, and provision of premium innovative electric batteries and EV batteries solutions, custom-designed to meet the specific requirements of global mainstream and specialist OEMs within the automotive, commercial vehicle, motorsport, and aerospace sectors.

The current investment is around EUR 20 million, which includes a subscription for an additional 4.5% equity stake in InoBat AS, Norway. With the above, Amara Raja Energy & Mobility's total holding will be around 9.32% of its equity stake in InoBat AS, including its previous investment.

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