Amara Raja shares rally 4% on partnership with Hyundai Motors for battery technology

Shares of Amara Raja Energy & Mobility rose 4.4% on Friday to an intraday high of Rs 1,273.75 on the BSE after the company announced that Hyundai Motors (HMIL) has partnered with them to equip its domestic product lineup with AMARON batteries.

“Hyundai Motor India Limited (HMIL), India’s smart mobility solutions provider, will equip its domestic product line-up with AMARON’s Made-in-India AGM (Absorbent Glass Mat) battery technology,” said the company in an exchange filing.

HMIL aims to equip its models with indigenously manufactured AGM batteries in Q4 of FY 2024-2025, making it the first auto OEM in India to use localized AGM technology.


The move is in-line with HMIL’s dedicated efforts towards localization and introducing locally sourced innovative technologies for Indian customers.

“We are thrilled to be a part of Hyundai Motor India Limited’s journey of redefining future mobility. This is a significant step in AMARON’s mission to deliver world-class energy solutions that meet the evolving demands of Original Equipment Manufacturers (OEMs). These batteries are designed to meet stringent Real Driving Emissions (RDE) norms like India’s BS6 Phase 2 standards,” said Harshavardhana Gourineni, Executive Director at Amara Raja Energy & Mobility.

The made-in-India AMARON AGM batteries have outperformed the conventional CMF (Complete Maintenance Free) batteries by about 150% in rigorous real-world durability tests, the company stated.

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With a wider operational temperature and longer life span, AGM batteries are a more appropriate fit for dynamic Indian driving conditions.

The shares of Amara Raja Energy & Mobility closed 1.7% lower at Rs 1,220.50 on the BSE on Thursday.

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