Amara Raja signs technical licensing pact with GIB EnergyX; stock zooms 20%

Quick Summary:

With today's rally, the market price of Amara Raja Energy & Mobility (ARE&M) has zoomed 66% from its low of Rs 999.

As a part of the agreement, GIB EnergyX will license Gotion's world class LFP technology for lithium-ion cells to ARACT, the company said in a regulatory filing.

In the first phase, it is setting up a Li-On cell plant of 2GwH capacity at capex outlay of around Rs 1,200 crore with likely commissioning by FY26, the brokerage firm added.

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Category: BusinessFinance

Markets: IndiaSlovakia

Topics: Wholly owned subsidiary Gotion High-Tech Co Lithiumion cells Amara Raja Advanced Cell Technologies Pvt. Ltd Markets Technical licensing agreement Auto Electric vehicle GIB EnergyX GIB EnergyX Slovakia s.r.o. Li-ion battery EV Chargers ARACT

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Article Type: News Report

Published On: 2024-06-25 @ 09:58:44 (5 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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