Amara Raja Sets Up Vehicle Maintenance Unit Under Amaron Assist
Amara Raja Energy & Mobility to set up a wholly owned subsidiary with up to INR 100 Cr for Amaron Assist vehicle services.
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Amara Raja Energy & Mobility has approved the incorporation of a wholly-owned subsidiary in India dedicated to automotive and battery services. The board authorised the decision on Monday, with an initial capital commitment of up to INR 100 crore to be deployed in tranches.
The new entity, to be incorporated in Telangana within the next two months, will operate as a technology-led services and solutions business.
It will offer automotive maintenance, battery servicing, vehicle care, and mobility assistance under the ‘Amaron Assist’ brand, building on the company’s existing retail and distribution network.
Amara Raja will hold 100% of the equity and control of the subsidiary after incorporation.
The announcement comes as the battery maker reported a 45% decline in consolidated net profit to INR 152 crore in Q2, despite 18% revenue growth.
Amara Raja Energy & Mobility has approved the incorporation of a wholly-owned subsidiary in India dedicated to automotive and battery services. The board authorised the decision on Monday, with an initial capital commitment of up to INR 100 crore to be deployed in tranches.
The new entity, to be incorporated in Telangana within the next two months, will operate as a technology-led services and solutions business.
It will offer automotive maintenance, battery servicing, vehicle care, and mobility assistance under the ‘Amaron Assist’ brand, building on the company’s existing retail and distribution network.
Amara Raja will hold 100% of the equity and control of the subsidiary after incorporation.
The announcement comes as the battery maker reported a 45% decline in consolidated net profit to INR 152 crore in Q2, despite 18% revenue growth.
