India’s second-largest battery maker, Amara Raja Energy and Mobility, is setting its sights on the U.S. market as it looks to boost its exports. The company plans to double the portion of its revenue coming from international sales over the next five years, according to a report by Mint.
The Hyderabad-based auto parts company is stepping up efforts to build a strong distribution network across North America, despite the impact of U.S. tariffs, according to Mint. The firm hopes to leverage its expertise in advanced lead-acid battery technology to gain a foothold in the market.
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Harshavardhana Gourineni, Executive Director of Amara Raja, told Mint that one of the company’s most promising opportunities lies in expanding its North American operations, particularly in lead-acid batteries, where trends such as the shift toward AGM (Absorbent Glass Mat) technology are creating new growth avenues.
“We’re the only manufacturer in India that’s supplying AGM batteries to the OEMs. We’d like to use that technological prowess to build market share and build long-term and robust customer relationships,” he added during his interview with Mint.
Gourineni acknowledged that U.S. tariffs have created some uncertainty, posing challenges for expanding the business. Still, he noted that Amara Raja has managed to stay competitive by adopting targeted strategies to navigate the hurdles.
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“We’ve been at 25% duty for the last 10 months or so. And yes, this definitely affects our competitiveness. It also creates a lot of suspense and confusion around which direction this may move and how long. But the fact is, we’ve still been able to compete. We’ve maintained our customer relationships. We’ve doubled down on building some distribution strength and getting a bit more local in the US, so that we can support the customers in a better way. And if things move in a positive direction, we can definitely build our volumes and take more market share,” he added.
Amara Raja Energy & Mobility’s shares ended January 5 slightly higher at Rs 930.80 each. The stock has gained over 3 percent in the past five days, though it has slipped roughly 2 percent over the last month.
Looking at the longer term, the stock has declined about 19 percent over the past year and more than 7 percent over the last five years.