Amara Raja to invest $1 billion to manufacture lithium-ion batteries
Amara Raja Chairman Jayadev Galla along with economists and policy makers at WEF summit in Davos on Thursday.
Tirupati: Amara Raja Group Co-founder and Chairman Jayadev Galla, who is also a TDP Parliamentary party leader, was at Davos to attend the World Economic Forum's (WEF) high-profile annual meeting.
The summit held from May 23 to May 26, was amongst the biggest events on the financial calendar and draws the who's who of the world's leaders, economists, policymakers and captains of industry.
Being a senior industry leader of India, Galla had several high-profile meetings with national and international leaders at Davos, including ministers from various states of India, who were present at the economic forum.
Galla addressed on various issues including climate change, energy crisis and surging commodity prices and about Electric Vehicle (EV) boom which push the Amara Raja into lithium-ion cell manufacturing. The company, he said, has planned to invest $1 billion in building up its capabilities to manufacture lithium-ion batteries over the next 5-10 years. He attended a series of roundtable discussions and was a panelist on the session of 'Impact of policy landscape on attracting investments,' according to a press release form Amara Raja.