Amara Raja Batteries Ltd and Johnson Controls, Inc. have signed a technology collaboration agreement to bring a new wave of battery technologies to India. Expanding on their 20 year partnership, the two companies will share and improve product design and manufacturing technologies enabling higher performance across Starting, Lighting and Ignition (SLI), Enhanced Flooded Batteries (EFB) and Absorbent Glass Mat (AGM) batteries. These advanced batteries are fundamental to enabling sophisticated consumer features and stricter emission standards in automotive vehicles.
As part of this collaboration, Amara Raja will license Johnson Controls' proprietary PowerFrame® grid technology. This patented technology is up to 66 percent more durable and more corrosion resistant to other grid designs. PowerFrame® grid technology has been tested in multiple cities around the world, in the most extreme, real-world conditions, across the full range of automotive low-voltage battery products. The advanced grid technology is also critical to meeting performance requirements associated with the Bharat stage VI environmental norms going into effect in 2020.
Commenting on the technology collaboration agreement, Mr. Jayadev Gaila, Vice-Chairman & Managing director, Amara Raja Batteries Ltd, said, "We offer innovative and the most advanced technologies to our customers, and our partnership with Johnson Controls has been a great enabler to our growth over the last many years. We have laid out a clear road map for long term strategic growth and will continue to make investments in technology capabilities, capacity building, brands and distribution. The new technology collaboration agreement with Johnson Controls will help us bring continued advancements in the products and technologies that meet our customers' future needs. This is synergistic to our motto of 'Gotta be a better way.'"
Mr. Joseph Walicki, President, Power Solutions, Johnson Controls, said, "Johnson Controls has been at the forefront of offering the advanced battery sol utions to meet the ever increasing demands of automotive vehicles. Our PowerFrame® grid technology coupled with the EFB and AGM products that we manufacture provide the highest reliability and optimal performance to meet our customers' present and future needs. We are very pleased with the successful growth of Amara Raja over the years and are excited to strengthen our partnership through this technology collaboration agreement."
Shares of AMARA RAJA BATTERIES LTD. was last trading in BSE at Rs.737.15 as compared to the previous close of Rs. 745.95. The total number of shares traded during the day was 146012 in over 1353 trades.
The stock hit an intraday high of Rs. 746.75 and intraday low of 716.85. The net turnover during the day was Rs. 107111660.