Accelerating EV growth Amara Raja signs MoU with Piaggio India
Published on : Monday 12-08-2024
Collaborates for development and supply of lithium-ion cells, 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 the Italian auto giant, Piaggio Group.
As part of this 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 along with developing cells and battery packs for their upcoming offerings, to be produced locally at Amara Raja’s Gigafactory in Divitipally, Telangana.
Since 2020, Amara Raja & Piaggio India have partnered to bring in transformation in the transportation sector. Amara Raja has manufactured and supplied 50,000 NMC Li-ion battery packs and EV chargers exclusively to Piaggio India which has had a cumulative run of over 120 crore kms till now.
Recently, Amara Raja entered into an agreement with Gotion-InoBat-Batteries (GIB) that will facilitate it to localise current global LFP technology for making Lithium-Ion cells specifically suited for Indian conditions. The company also has an agreement with Jiangsu Highstar Battery Manufacturing Co for NMC technology.
Amara Raja is committed to providing products and solutions for e-mobility and energy storage markets and aims to be one of the largest manufacturers of Li-ion and other advanced chemistry cells in India. It had announced an investment outlay of Rs 9,500 crore to establish a 16Gwh capacity gigafactory in Telangana. Additionally, the company is all set to lead India’s R&D capabilities by establishing a state-of-the-art advanced research and innovation centre called ‘ePositive Energy Labs’ in Hyderabad.
Piaggio India has been at the forefront of the Electric 3-wheeler market and has introduced the country’s first and unique battery subscription model that makes the electric vehicle a lot more affordable for customers.
Vikramaditya Gourineni, Executive Director, Amara Raja Energy & Mobility Ltd said, “We have had a long-standing partnership with Piaggio India and have immense respect for their contribution to electrify mobility in India. They have revolutionised the electric 3-wheeler space in the country, and we are hopeful that this new agreement will further enhance their product portfolio. At Amara Raja, we have significantly progressed in our efforts to building world-class facilities to manufacture cell and battery packs customised for Indian conditions. Our recent collaboration with Gotion-InoBat will accelerate our efforts towards the same. Together with Piaggio, we are looking to build products and solutions that will indigenise and revolutionise the EV landscape of the country.”
Diego Graffi, Chairman & Managing Director, Piaggio Vehicles Pvt Ltd said, “Amara Raja and Piaggio India have long -standing mutually beneficial partnership and I am happy to strengthen it further with the MoU we have signed today. Piaggio has always been at the forefront of innovation that benefits and empowers our customers. Together with Amara Raja we are confident of advancing our successful EV journey as India adapts to electric mobility.”
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