Cooperating in the development and supply of lithium-ion batteries, battery packs, and chargers
Hyderabad, August 10, 2024: Amara Raja Advanced Cell Technologies (ARACT), a wholly owned subsidiary of Amara Raja Energy & Mobility (ARE&M), one of India’s leading battery manufacturers, has signed a Memorandum of Understanding (MoU) with Piaggio Vehicles Private Limited, a 100% Indian subsidiary of Italian automobile major Piaggio Group.
As part of the agreement, Amara Raja will collaborate with Piaggio India to develop and supply LFP (lithium iron phosphate) lithium-ion (Li-ion) cells and chargers for its electric vehicles, as well as develop cells and battery packs for future products that will be manufactured locally at Amara Raja’s Gigafactory in Divithipally, Telangana.
Since 2020, Amara Raja and Piaggio India have partnered to bring about change in the transportation sector. Amara Raja has manufactured and supplied 50,000 NMC Li-ion battery packs and EV chargers exclusively for Piaggio India, covering a cumulative total of over 1.2 billion kms to date.
Recently, Amara Raja signed an agreement with Gotion-InoBat-Batteries (GIB) that will facilitate localisation of the current global LFP technology to manufacture Li-ion batteries specifically suited for Indian conditions. The company has also signed an agreement with Jiangsu Hyster Battery Manufacturing Company for NMC technology.
Amara Raja is focused on providing products and solutions for the e-mobility and energy storage markets and aims to be one of the largest Li-ion and other advanced chemistry cell manufacturers in India. The company has announced an investment outlay of Rs 9,500 crore to set up a Gigafactory with a capacity of 16 Gwh in the state of Telangana. In addition, the company is setting up a state-of-the-art advanced research and innovation centre called ‘ePositive Energy Labs’ in Hyderabad, poised to lead India’s research and development capabilities.
Piaggio India has been at the forefront of the electric three-wheeler market, introducing India’s first and unique battery subscription model that makes electric vehicles much more affordable for customers.
Vikramaditya Goolineni, Executive Director, Amara Raja Energy & Mobility, said, “We have been partnering with Piaggio India for many years and have deep respect for their contribution towards electrifying mobility in India. They are revolutionising the electric three-wheeler industry in India and we are excited about this new agreement which will further strengthen their product portfolio. At Amara Raja, we have made great strides in our efforts to build a world-class facility to manufacture cells and battery packs customised for Indian conditions and our recent partnership with Gotion Innovat will accelerate this journey. Together with Piaggio, we aim to build products and solutions that will indigenise and revolutionise the EV industry in India.”
Diego Graffi, Chairman and Managing Director, Piaggio Vehicles, said, “Amara Raja and Piaggio India have enjoyed a mutually beneficial partnership for many years and we are pleased to further strengthen it with the MoU signed today. Piaggio has always been at the forefront of innovation that benefits and empowers our customers. As India adapts to electric vehicles, we are confident that together with Amara Raja, we will successfully advance its EV journey.”
About Amara Raja Energy & Mobility Limited
Amara Raja Energy & Mobility Limited (ARE&M) is involved in diversified solutions and products including Energy Storage Solutions, Lithium-ion Battery Manufacturing, a wide range of EV Chargers, Lithium-ion Battery Pack Assembly, Automotive & Industrial Lubricants and New Chemical Exploration.
ARE&M is also one of the largest manufacturers of energy storage products for industrial and automotive applications in India. Amara Raja is a preferred supplier to leading telecom service providers, telecom equipment manufacturers, UPS sector (OEM and replacement), Indian Railways, power, oil and gas industrial segments. Amara Raja’s industrial battery brands are PowerStack®, AmaronVolt® and Quanta®. The company also manufactures India’s leading automotive battery brands Amaron® and Powerzone, which are distributed through a large sales and service retail network across India. The company supplies automotive batteries to Ashok Leyland, Ford India, Honda, Hyundai, Mahindra & Mahindra, Maruti Suzuki, Tata Motors, etc. under OE relationships. Amara Raja’s industrial and automotive batteries are exported to over 50 countries globally.
About Piaggio Vehicles
Founded in 1884, the Piaggio Group is Europe’s largest scooter and motorcycle manufacturer and one of the global leaders in its industry.
PVPL is a 100% subsidiary of Piaggio & C. spa, Italy, the inventor of commercial vehicles and two-wheelers. Piaggio Vehicles Pvt. Ltd. (PVPL) currently holds the leading position in the commercial vehicles and two-wheelers domain. Having revolutionised the three-wheeler cargo vehicle sector in the country, Piaggio has now set global standards in multiple service domains. The company also owns legendary two-wheeler brands like Vespa and Aprilia, the luxury segment of the two-wheeler industry. PVPL’s vast manufacturing unit is based in Baramati, Maharashtra, and produces commercial vehicles and two-wheelers for India and select international markets.
PVPL’s vision and mission is to be recognized as a unique, impactful, responsive, innovative and growth-oriented company known for unmatched levels of excellence; and to attain status as a world-class company manufacturing and distributing a wide range of quality products to the complete satisfaction of its customers in the national and international markets. With unparalleled customer care, cutting edge products and numerous awards, PVPL continues its journey, inspiring and improving the quality of life of millions of people across India.
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