The second-largest automotive battery manufacturer in the nation, Amara Raja Group, plans to focus on the energy storage market, renewable energy sectors, and the electric vehicle (EV) industry.
According to a senior firm official, it also anticipates that the infrastructure and electricity businesses, which are anticipated to merge by the end of current fiscal year (2022–23, or FY23), will more than treble their turnover from RS 1,200 crore to RS 3,000 crore by 2025.
The $1.3 billion group would continue to concentrate on conventional lead acid batteries while investing roughly RS 7,000 crore on lithium-ion. The company not only provides battery packs for battery EVs but also for other uses, such as energy storage.
“During the first phase, we will be investing around RS 6,000-7,000 crore. We have a research and development centre at Tirupati in Andhra Pradesh,” said VikramadithyaGourineni, executive director at Amara Raja Batteries.
