Hyderabad: Tirupati-based battery major Amara Raja Group on Wednesday said it has invested Euro 10 million in Norway-based EV tech and batteries maker InoBat Auto AS as part of efforts to get a foothold into the European EV market.
\nAmara Raja said said in a regulatory filing to the bourses that the Euro 10 million transaction, which is pegged at around EUR 62.5 subscription price per share, includes a subscription of 0.04% equity stake and convertible loan in InoBat Auto AS, Norway
\nThe transaction is expected to be completed within 3 months subject to fulfillment of certain terms and conditions.
\nThe company said the investment will provide it access to cutting edge EV battery technology and manufacturing expertise. It will open up new R&D avenues while allowing it to adapt InoBat\u2019s highly innovative battery technology to markets that it already serves.<\/p>\n","protected":false},"excerpt":{"rendered":"
Hyderabad: Tirupati-based battery major Amara Raja Group on Wednesday said it has invested Euro 10 million in Norway-based EV tech and batteries maker InoBat Auto AS as part of efforts to get a foothold into the European EV market. Amara Raja said said in a regulatory filing to the bourses that the Euro 10 million transaction, which is pegged at around EUR 62.5 subscription price per share, includes a subscription of 0.04% equity stake and convertible loan in InoBat Auto AS, Norway The transaction is expected to be completed within 3 months subject to fulfillment of certain terms and conditions. […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,246,137],"tags":[],"class_list":["post-459258","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/459258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=459258"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/459258\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=459258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=459258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=459258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}