AESC Group Ltd, a Yokohama-based battery manufacturer owned by Chinese energy technology company Envision, has acquired a 12% stake in Agratas Energy Storage Solutions Pvt. Ltd, the electric vehicle battery subsidiary of the Tata Group. The deal, completed in March 2025, is valued at approximately ₹66 crore.
This marks the first time the Tata Group has publicly acknowledged foreign—specifically Chinese-linked—investment in one of its emerging businesses. Agratas, incorporated in 2023, serves as the group’s primary EV battery manufacturing venture and is seen as a critical player in India’s push toward electrification.
Alongside the equity investment, Gordon Louis Chin, General Counsel of AESC Group, has joined the Agratas board of directors, indicating a closer operational and strategic alignment between the two companies.
Prior to the deal, Tata Sons held an 88% stake in Agratas, having invested ₹484 crore since its inception. The fresh capital infusion from AESC is expected to bolster Agratas’s plans to ramp up battery production for domestic and global clients, including BMW, Mercedes-Benz, Renault-Nissan, and Honda.
Industry analysts view the investment as a strategic move that could strengthen Agratas’s access to advanced battery technologies while deepening ties with global automotive manufacturers transitioning to electric mobility. The partnership also underscores the growing role of cross-border collaboration in building India’s EV supply chain.
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