(AF) India’s second largest lead-acid automotive battery maker Amara Raja Group, said it will invest about $2.5 billion (Rs 181 billion) in a bid to make advanced chemistry cell (ACC) batteries under the government’s Production Linked Incentive (PLI) scheme, the Economic Times reported today.
The company also wants to invest in the future mobility domain, the newspaper reported, adding that on Monday it made its first move by investing $45 million (Rs 370 million) in battery and deep tech startup Log 9, picking up a 11.36% stake. Full story: The Economic Times.
ALSO SEE:
Three Reasons It All Went Wrong at India’s Vodafone Idea
Tesla Lobbies India for Steep Cut in Import Taxes on Electric Vehicles
