Amara Raja Group and Atul Greentech Private Limited (AGPL) entered into a strategic partnership to collaborate on the design and supply of Lithium Iron Phosphate (LFP) battery packs and chargers for electric vehicles.
Battery packs for Atul Greentech’s three-wheelers would be manufactured at Amara Raja’s Giga Corridor plant in Divitipalli, Telangana, under the agreement signed in Ahmedabad. In line with India’s “Atma Nirbhar Bharat” (self-reliant India) vision, the partnership also seeks to manufacture battery cells, such as advanced chemistry cells.
This partnership comes at a time when India’s automotive industry is making the transition to electric vehicles, with the two- and three-wheeler segments experiencing the most growth. As part of an attempt to reduce dependence on fossil fuels and lower carbon emissions, the government has implemented various initiatives to promote the use of EVs, including tax incentives and incentive schemes linked to production.
By 2030, India expects 30% of private car sales, 70% of commercial vehicle sales, and 80% of two- and three-wheeler sales to be electric. Industry experts forecast that up to 2030, the country’s EV market will grow at a compound annual rate of over 40%.
The partnership is a major step toward strengthening India’s position in the global electric mobility ecosystem, decreasing dependency on imports, and developing domestic manufacturing capabilities for EV components.