India’s Amara Raja to Make Advanced Chemistry Cell Batteries: ET

(AF) India’s second largest lead-acid automotive battery maker Amara Raja Group, said it will invest about $2.5 billion (Rs 181 billion) in a bid to make advanced chemistry cell (ACC) batteries under the government’s Production Linked Incentive (PLI) scheme, the Economic Times reported today.

The company also wants to invest in the future mobility domain, the newspaper reported, adding that on Monday it made its first move by investing $45 million (Rs 370 million) in battery and deep tech startup Log 9, picking up a 11.36% stake. Full story: The Economic Times.

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Indrajit Basu

Indrajit Basu is an India-based correspondent for Asia Financial and wears two hats: journalist and researcher (equity). Before joining AF he reported on business, finance, technology, wealth management, and current affairs for China Daily, SCMP, UPI, India Today Group, Indian Express Group, and many more. He is also an award-winning researcher. If he didn't have to pay bills, he would be a wanderer.