Amara Raja Batteries: One of the top-leading manufacturers of automotive batteries in India, Amara Raja Batteries now wants to expand its business into the two-wheeler market.
To embrace growth and development, the battery manufacturing company is planning to expand its business in the electric bikes and scooters market.
With the objective of expanding its lithium-ion business this financial year, the manufacturer is about to enter the EV two-wheeler market to power growth.
Moreover, the manufacturer has customers only in the three-wheeler EV market and generates around 2.5% of its revenue from its lithium-ion battery business.
Talking about the rest of its total revenue, around 103.85 billion rupees ($1.25 billion) in fiscal 2023 was from its flagship lead acid storage battery-making unit.
The company owns the Amaron battery brand, which is the second-largest-selling automotive battery brand in India. Now, it is planning to penetrate into the two-wheeler EV market first with chargers and eventually through battery packs.
Amara Raja holds discussions with global companies with the aim of getting opportunities for “technology transfer” tied to lithium-ion battery manufacturing.
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