Amara Raja partners with Gotion for advanced Lithium-Ion cell technology

26 Jun 2024 , 08:46 AM

Amara Raja Energy & Mobility’s subsidiary, Amara Raja Advanced Cell Technologies Private Ltd, has entered into a technical licensing agreement with GIB EnergyX Slovakia s.r.o., a subsidiary of Gotion High-Tech Co Ltd.

The agreement allows GIB EnergyX to license Gotion’s LFP (Lithium Iron Phosphate) technology for lithium-ion cells to ARACT.

At the time of writing on June 25, 2024, at 2:21 pm, shares of Amara Raja Energy & Mobility Ltd is trading at Rs 1616 which is a 17% surge from the previous close.

Key aspects of the agreement include access to Gotion’s cell technology IP, support for setting up Gigafactory facilities with advanced process technologies, integration into Gotion’s global supply chain for battery materials, and technical support for deployment.

This collaboration aims to enhance Amara Raja’s Gigafactory manufacturing capabilities and advance its research center, ‘e+ Energy Labs’, focused on strengthening India’s R&D capabilities.

Amara Raja previously announced a ₹9,500 crore investment in the Amara Raja Giga Corridor in Telangana to ensure competitiveness through continuous improvements in cell performance and manufacturing efficiencies.

Amara Raja and Gotion are both shareholders and board members of InoBat, a prominent lithium battery technology company specializing in applications like electric aviation and sustainable battery ecosystem development.

GIB, a joint venture of Gotion High-Tech and InoBat, secured an investment agreement with the Slovakian government to establish Slovakia’s first LFP battery Gigafactory.

Gotion High-Tech operates 8 global R&D centers, holds 8,000 patented technologies across the battery industry, operates 20 major manufacturing facilities worldwide, and aims to achieve a capacity of 300 GWh by 2025.