Amara Raja Energy Hikes Stake in European Battery Tech Company InoBat for 20 Million Euros

MT Newswires Live06-21

Battery manufacturer Amara Raja Energy & Mobility (NSE:ARE&M, BOM:500008) has agreed to acquire another 4.5% stake in battery tech company InoBat AS, Norway, for 20 million euros, according to a Thursday filing to the Indian stock exchanges.

The latest transaction will boost Amara Raja's total holding in InoBat to 9.32% following its previous 10 million-euro investment.

InoBat specializes in the research, development, and production of batteries for electric vehicles.

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