October 5, 2023: Amara Raja Batteries changed its name to Amara Raja Energy & Mobility as of September 28 — stressing that its lead battery roots would continue as one of two key pillars of its future operations.
The other pillar will be lithium-based tech as the India-headquartered group develops further in sectors such as battery storage, cell manufacturing, renewables and battery management systems.
Jayadev Galla (pictured), chairman and MD, said the group had made significant investments in its in-house R&D capabilities in recent years while also partnering with companies “at the forefront of new energy technologies”.
Vikramadithya Gourineni, executive director of the group’s new energy business said: “Our transition is more than just a name change — it reflects our move away from being battery-only.”
In a related move, on September 29, the group confirmed it was paying Rs. 1 billion crore ($12 million) in cash to acquire Amara Raja Power Systems from RNgalla Family Private Limited — a company established by the Amara Raja’s founder and former chairman, Ramachandra Galla, who stepped down from the batteries group in 2021.
The acquisition should be completed within three months, subject to various regulatory conditions.
In May, Amara Raja broke ground for its 16GWh lithium battery cells factory and research complex in the southern Indian state of Telangana.