INTERVIEW: Chairman Jayadev Galla on Amara Raja's future plans
Amara Raja Energy & Mobility aims to lead India's EV battery market, investing in lithium-ion technology while maintaining growth in the lead-acid business. With plans for a 30 gigawatt-hour Giga factory and expansion into various EV segments, Chairman Jayadev Galla is targeting a 50-50 revenue split between new energy and traditional business.
22 Sep 2024
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INDIA'S SECOND-LARGEST AUTOMOTIVE battery maker, Amara Raja Energy & Mobility, which, along with Exide, controls nearly 80% of the domestic automotive battery market, is now setting its sights on the lithium-ion segment. This move is a strategic leap, aimed at capitalising on the fast-growing electric vehicle market while also hedging against the vulnerabilities in its core lead-acid battery business.
In Q1Y25, revenue from its lead-acid battery business saw a 15% year-on-year growth. Meanwhile, its li-ion-based new energy segment — focussed primarily on mobility and energy storage — outpaced expectations with a 20% year-on-year increase in revenue.
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