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Amara Raja Batteries Limited’s shares were up by 0.51 per cent after the company officially rebranded itself as Amara Raja Energy and Mobility Limited (ARE&M). This move marks the culmination of a two-year journey aimed at transitioning from a battery manufacturer to a comprehensive solutions provider in the Energy and mobility sector.
Amara Raja Energy & Mobility Limited (ARE&M) now offers a range of solutions and products, encompassing Automotive Batteries, Industrial Batteries, Battery Energy Storage Solutions, Lithium-Ion Cell Manufacturing, a wide array of EV Chargers, Li-ion Battery Pack Assembly, Renewable Energy Storage Solutions, Battery Management Systems, and Lubricants.
The company’s new approach will be anchored on two pillars: maximising value in the existing Lead-Acid battery business channel along with related products, and fostering the growth of the New Energy Business.
In November 2022, Amara Raja Advanced Cell Technologies Private Limited, a subsidiary was established. This subsidiary is taking the lead in Li-ion initiatives, overseeing the construction of a 16Gwh Gigafactory for the production of cells and battery packs. Additionally, they have set up an advanced collaborative R&D facility known as the E Positive Energy Labs.
The shares were up by 0.51 per cent to ₹641.95 at 9.55 am on the BSE.
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