Sunday, Sep 8 2024 | Time 20:55 Hrs(IST)
image
Business EconomyPosted at: Aug 10 2024 4:26PM


Telangana: Amara Raja inaugurates Battery Pack Plant and lays foundation stone for CQP

Hyderabad, Aug 10 (UNI) Amara Raja Advanced Cell Technologies (ARACT), a wholly owned subsidiary of the Amara Raja Energy & Mobility Limited (ARE&M), one of India’s leading industrial and automotive battery majors, laid foundation stone for its Customer Qualification Plant (CQP) for cell manufacturing at its Giga Corridor at Divitipally in Mahabubnagar district on Saturday.
On the occasion, the company also inaugurated the Phase- 1 of the battery pack plant with a current capacity of 1.5 GWh.
The plant makes Li-ion battery packs specifically suited for Indian conditions and will be supplying to major EV OEMs along with being used for stationery energy storage requirements.
The CQP, which is all set to be operational by Q1 of the next financial year, would produce various cell types for customer testing and validation.
The project recently received a fillip after ARE&M’s collaboration with Gotion Inobat (GIB) for technology, manufacturing and customized solutions.
The Giga Corridor which is spread across 260 acres of land will entail an investment of Rs 9,500 crore till 2031 and will include the advanced cell manufacturing Gigafactory along with battery pack facility.
In addition, the company is also building a first-of-its kind advanced energy research and innovation center in Hyderabad, dubbed the ePositive Energy Labs.
On the occasion, Jayadev Galla, Chaiman & Managing Director, Amara Raja Energy & Mobility said "Today's groundbreaking ceremony signifies the start of a transformative journey for this region. This is not just a ceremonial milestone but the beginning of our strategic initiative to create sustainable, non-migratory job opportunities for local youth through the Gigacorridor in Telangana."
"We anticipate this initiative will play a crucial role in advancing India's energy transition. The CQP is first of its kind in India and will help us develop the perfect cell chemistry for each customer’s requirement" said Vikramadithya Gourineni, Executive Director, ARE&M.
Among those who attended the event including Steven Cai, Board member and President EMEA; Diego Graffi, CMD Piaggio Vehicles India, Ashish Jangale, VP and Head SSU Mahindra & Mahindra and Swapnil Jain, Co-founder Ather Energy.
UNI KNR CS1625
Please log in to get detailed story.
Tags: #Telangana: Amara Raja inaugurates Battery Pack Plant and lays foundation stone for CQP
More News

Indian Bank opens 2 Specialized MSME Branches to empower small businesses

07 Sep 2024 | 6:20 PM

Chennai, Sep 7 (UNI) The public sector Indian Bank has opened two specialized
MSME Branches at Ambattur (Chennai) and in the Textile City of Coimbatore, to
empower small businesses and is planning more such branches in other regions.

see more..

Agilisium opens new facility in Hyderabad

06 Sep 2024 | 8:05 PM

Hyderabad, Sept 6 (UNI)Strengthening its presence in India, Agilisium a premier data innovation partner for the Life Sciences Industry,on Friday announced the inauguration of a new development center in Hyderabad.

see more..

WIML to form joint venture in Saudi Arabia

06 Sep 2024 | 7:05 PM

Vadodara, Sep 6 (UNI) Wardwizard Innovations & Mobility Limited (WIML) on Friday announced that the company has received a Letter of Intent (LOI) from His Royal Highness Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud to form a Joint Venture in the Kingdom of Saudi Arabia (KSA).

see more..

IMEC would ensure faster movement of goods between Europe and Asia: Goyal

06 Sep 2024 | 5:47 PM

New Delhi, Sep 6 (UNI) India-Middle East-Europe Economic Corridor (IMEC) can add to India's maritime security and faster movement of goods between Europe and Asia, said Commerce Minister Piyush Goyal here on Friday.

see more..

Free fall at D-Street; wipes off over Rs 4 5L cr mkt capitalization

06 Sep 2024 | 5:37 PM

Mumbai, Sep 6 (UNI) India’s stock market on Friday fell like a pack of cards as the benchmark indices extended the losing streak for third straight day with both BSE Sensex and NSE Nifty closing down over one per cent each mainly on concerns whether US Fed will cut interest rate in its meeting this month and also profit booking by domestic operators.

see more..
image