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Amara Raja Partners with Piaggio for EV Batteries and Chargers in India

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Synopsis:

Amara Raja partners with Piaggio India to develop LFP Lithium-Ion cells and chargers for EVs, inaugurates a 1.5 GWh battery pack plant, and plans a Customer Qualification Plant. The stock has gained 145.29% in the past year..

Amara Raja News Today

Amara Raja Batteries has entered into a strategic partnership with Italian motor vehicle manufacturer Piaggio India. The Memorandum of Understanding (MoU) outlines their collaboration to develop and supply Lithium Iron Phosphate (LFP) Lithium-Ion (Li-ion) cells and chargers for electric vehicles (EVs). As a result, Amara Raja’s share price will remain in focus today.

LFP Cells and Chargers for EVs

Under this agreement, Amara Raja will collaborate with Piaggio Vehicles to develop and supply LFP Lithium-Ion cells and chargers specifically designed for Piaggio's electric three-wheelers (3Ws).

Additionally, the companies will work together to create cells and battery packs for Piaggio’s upcoming two-wheeler (2W) offerings. These products will be manufactured locally, ensuring they meet the unique demands of the Indian market.

Inauguration of Battery Pack Plant

Amara Raja recently held a groundbreaking ceremony for its Customer Qualification Plant (CQP) in Divitipally, Mahabubnagar district. The company also inaugurated Phase 1 of its battery pack plant, which has a current capacity of 1.5 GWh.

This plant focuses on producing Li-ion battery packs that are tailored to Indian conditions and will supply major EV original equipment manufacturers (OEMs) and cater to stationary energy storage needs.

Upcoming Customer Qualification Plant (CQP)

The Customer Qualification Plant is expected to be operational by the first quarter of the next financial year. The CQP will have the capability to produce various cell types for customer testing and validation, further enhancing Amara Raja's position in the EV battery market.

This project received a significant boost through Amara Raja Energy & Mobility's (ARE&M) collaboration with Gotion Inobat (GIB) for technology, manufacturing, and customised solutions.

Strategic Collaborations and Investments

In addition to the Piaggio partnership, Amara Raja Advanced Cell Technologies (ARACT) recently signed an MoU with Ather Energy to develop market-relevant solutions for India’s electric vehicle ecosystem.

The company is also expanding its international footprint, having acquired a ₹170 crore (20 million euros) stake in the Norwegian battery manufacturing company InoBat AS, increasing its ownership to 9.32%.

Stock Performance

Amara Raja’s share price closed at ₹1,504.85 on Friday, reflecting a 0.40% gain. Over the past 12 months, the stock has delivered a remarkable return of 145.29%, indicating strong market confidence in the company's growth trajectory and strategic initiatives.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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