Atul Greentech and Amara Raja Form Strategic Partnership for EV Batteries

Atul Greentech Private Limited (AGPL) and Amara Raja Group announced today a strategic partnership to collaborate on the development and supply of Lithium Iron Phosphate (LFP) battery packs and chargers for electric vehicles.

The agreement, signed in Ahmedabad, establishes that battery packs for Atul Greentech's three-wheelers will be manufactured at Amara Raja's Giga Corridor facility in Divitipalli, Telangana. The partnership also includes plans to develop battery cells, including advanced chemistry cells, aligning with India's "Atma Nirbhar Bharat" (self-reliant India) initiative.

The tripartite Memorandum of Understanding involves Amara Raja Advanced Cell Technologies, a subsidiary of Amara Raja Energy & Mobility, Atul Greentech Private Limited, and Amara Raja Power Systems Limited.

"Together with Amara Raja we are confident of advancing our successful EV journey as India adapts to electric mobility," said Vijay Kedia, Director at Atul Auto Limited, the parent company of Atul Greentech.

Vijayanand Samudrala, President of New Energy at Amara Raja Energy and Mobility, stated, "We believe that a domestic ecosystem of cells, packs, chargers along with research and development is critical as India embraces electric vehicles."

This partnership comes as India's automotive industry transitions toward electric vehicles, with particular growth in the two-wheeler and three-wheeler segments. The government has implemented various initiatives to promote EV adoption, including production-linked incentive schemes and tax benefits, aiming to reduce dependence on fossil fuels and cut carbon emissions.

India has set targets to achieve 30% electric vehicle sales penetration for private cars, 70% for commercial vehicles, and 80% for two and three-wheelers by 2030. The country's EV market is projected to grow at a compound annual growth rate of over 40% through 2030, according to industry analysts.

Atul Greentech, a subsidiary of Atul Auto Limited, specializes in electric three-wheelers for domestic and international markets, focusing on last-mile connectivity solutions. Amara Raja Energy & Mobility is one of India's largest manufacturers of energy storage products, supplying to telecom providers, railways, and automotive manufacturers, with exports to more than 50 countries worldwide.

The collaboration represents a significant step in building domestic manufacturing capabilities for EV components, reducing reliance on imports and strengthening India's position in the global electric mobility ecosystem.