HYDERABAD: Tirupati-based battery maker, Amara Raja Batteries Ltd (ARBL), on Monday said it will be expanding its lead acid batteries business and setting up a new energy strategic business unit (SBU) encompassing lithium cell and battery pack, EV chargers, energy storage systems, advanced home energy solutions and related products and services.
According to the company’s board, the role played by lead acid technology across a variety of applications provide growth opportunities in domestic and international markets. Besides, the emergence of lithium as an alternative energy storage technology also opens up new growth opportunities. Apart from investing in latest technologies, the company also expects to pursue inorganic opportunities, the board added.
Commenting on the new growth plans, ARBL 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.”
Besides, the board of ARBL also approved a series of leadership and organisational changes. Founder chairman Ramachandra Galla will not seek reappointment in the board meeting and will continue as director and chairman till the conclusion of the annual general meeting (AGM) in August. Meanwhile, Jayadev Galla will assume the role of chairman of the board after the AGM and Harshavardhana Gourineni and Vikramadithya Gourineni will be inducted as executive directors. S Vijayanand will take charge as president (new energy). Besides, the board also inducted Annush Ramasamy as independent director of ARBL.