Amara Raja investing €10 million in European electric vehicle battery group
The Hindu
The investment is part of the Energy and Mobility strategy Amara Raja is pursuing to foray into new green technologies and solutions through expansion and investment
Amara Raja Batteries is investing €10 million in InoBat Auto, a European Group focused on research and development in the field of batteries for electric vehicles and production of lithium-ion battery cells as well as tailored and customs cells.
Consisting of a subscription of 0.04% equity stake and convertible loan in InoBat Auto AS, Norway, the investment is part of the Energy and Mobility strategy Amara Raja is pursuing to foray into new green technologies and solutions through expansion and investment.
The initial investment will give Amara Raja a foothold in the thriving European EV ecosystem, where multiple battery gigafactories are being established to support the region’s determined EV push, including in the U.K., which is seeing a rising need to address increasing demand for electric vehicles, the company said in a statement.
Air India has signed an agreement with Bengaluru Airport City Limited (BACL), a subsidiary of Bangalore International Airport Limited (BIAL), to develop a built-to-suit facility for the AME program that will feature modern classrooms, well-equipped laboratories for practical training and a team of qualified trainers.
Zepto raises $350 million in largest domestic fundraise in India, backed by leading financial institutions and notable individuals.
Adani Enterprises Ltd stock dips on NSE and BSE after Kenyan project cancellations and U.S. court allegations.
HSBC Flash India PMI shows uptick in private sector activity, with rising cost pressures and increased prices for customers.
Rupee rises slightly against US dollar amid geopolitical pressures, foreign outflows, and domestic equities; Brent oil surges.
Sensex and Nifty rebound in early trade driven by value buying, bank stock rally, and positive global cues.
The pandemic-induced downturn marked a turning point for cab drivers in Bengaluru. According to Tanveer Pasha, president, Ola and Uber Drivers’ Association, the number of active cabs in the city has dropped from over 1 lakh before the pandemic to just around 30,000 today.
Amazon will likely face an EU investigation next year into whether it favours its own brand products, said sources.
White House addresses bribery charges against Indian billionaire Adani, expresses confidence in U.S.-India relationship.
NTPC Green Energy IPO oversubscribed by 93% on day 2, raising ₹3,960 crore for renewable energy projects.
Chief Economic Advisor advises India Inc to focus on productivity, R&D, and quality over reliance on weak currency for exports.