To enable this shift, the Board of ARBL has also approved a series of leadership and organizational changes
Battery manufacturer Amara Raja Batteries Ltd (ARBL) announced energy and mobility as its strategic focus going forward to capitalise on emerging opportunities, adding that it will invest in new green technologies, including lithium-ion batteries, to capitalise on the fast-evolving trends in energy and mobility sectors.
“The Board of Amara Raja Batteries Ltd. (ARBL) has launched several strategic initiatives to take advantage of fast emerging new opportunities to accelerate growth and enhance stakeholder value,” it said in a release.
It has announced the expansion of the lead-acid batteries business and the establishment of a New Energy SBU encompassing lithium cell and battery pack, EV chargers, Energy Storage Systems, Advanced Home Energy Solutions and related products and services.
Vice Chairman Jayadev Galla said, “After a careful review of the global business opportunities, the ARBL Board has decided to future-proof our business by repositioning ARBL as an Energy and Mobility player. The Board believes that ARBL has to invest in a portfolio of businesses to maintain its technological and business leadership.”
The ACC PLI scheme announced recently by the government for Rs 18,000 crore provides a significant impetus for building a domestic supply chain for lithium and other advanced cell chemistries to serve the fast-growing EV and renewable energy sectors. ARBL plans to invest in a bouquet of products and services to accelerate its transformation to an Energy and Mobility solutions provider, the company added.
To enable this shift, the Board of ARBL has also approved a series of leadership and organizational changes.
Vice-Chairman Jayadev Galla is poised to become the new Chairman as Founder Chairman Ramachandra Galla has decided not to seek reappointment after 36 years at the helm. The company’s board of directors has also inducted gen-next leaders Harshavardhana Gourineni and Vikramadithya Gourineni as executive directors to actively drive the transition to the ‘Energy & Mobility’ initiative. S Vijayanand will take charge as President (New Energy).
The company added, “ARBL will further invest in advanced process technologies to maintain its technological edge as well as recycling to enhance critical raw material security and expand its commitment to environmental responsibility. The Company also hopes to pursue inorganic opportunities available in the market to bolster its leadership position. ARBL is confident that these initiatives will result in higher growth rates, increased market share and enhanced stakeholder value.”
