Amara Raja - Expresses Intent Of Going Big On New Energy-Lithium-Ion Space: ICICI Direct
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ICICI Direct Report
We attended the virtual Amara Raja Batteries Ltd. investor event wherein the company laid out its plans on maximising lead acid battery business potential and exploring the upcoming opportunity presented by the mega change i.e. lithium-ion batteries.
With limited organic growth prospects in the lead acid battery domain amid increasing pace of adoption of electric vehicles, the company expressed its intent to scout for a partnership (technology partner, joint venture, etc) and venture into Li-On cell manufacturing domestically.
It is envisaging setting up a globally competitive facility with capacity of ~10 gigawatt hour at a potential capex outlay of ~$1 billion, over a period of time.
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