Amara Raja bets on EV sector; expects turnover to touch Rs 3,000 cr by 2025

Amara Raja Group – the second-largest automotive battery player in the country – is set to train its sights on the electric vehicle (EV) sector, renewable energy markets, and energy storage systems. It also expects the infrastructure and power business – expected to be merged by the end of this financial year (2022-23, or FY23) – to more than double its turnover from Rs 1,200 crore to Rs 3,000 crore by 2025, said a senior company executive.

The $1.3-billion group will be investing around Rs 7,000 crore in lithium-ion, while continuing its focus on traditional lead acid batteries. In addition to offering its battery packs to battery EVs, the company is also offering battery packs to other applications like energy storage.