India’s major lead battery manufacturer, Amara Raja, has invested in Bengaluru-based Log 9 Materials Scientific to secure 11.36pc. Amara Raja wants to accelerate its plans towards becoming an enterprise under Energy and mobility space with the investment in the company manufacturing EV batteries.
Log 9 Materials has competencies across materials, electrode cell, and pack levels fabrication of energy storage. The company has developed an “Aluminium Fuel Cell” that primarily uses three components, aluminum, water, and carbon in the form of graphene.
The acquisition with an investment of Rs369mn will be complete by the end of August.
With new technologies entering the EV battery space, Log 9 says long Haul LCVs and HCVs, including buses, are extremely difficult to electrify using lithium-ion batteries.
The electric vehicles segment is expected to gain momentum in the coming years as countries move towards a sustainable world. Several major auto manufacturers are planning to shift to EV completely in the next ten years, which has resulted in high demand for electric vehicle batteries.