homebusiness Newscompanies NewsAmara Raja aims for $3 billion revenue in lead acid batteries within 5 7 years
Amara Raja aims for $3 billion revenue in lead acid batteries within 5-7 years
Amara Raja, a prominent battery manufacturer, is setting its sights on achieving a substantial milestone in the lead-acid battery industry. Harshavardhana Gourineni, the Executive Director of Amara Raja, recently shared ambitious plans with CNBC-TV18, revealing the company's intention to reach a remarkable $3 billion in revenue within the next 5-7 years.
Amara Raja, a prominent battery manufacturer, is setting its sights on achieving a substantial milestone in the lead-acid battery industry.
Harshavardhana Gourineni, the executive director of Amara Raja, recently shared ambitious plans with CNBC-TV18, revealing the company's intention to reach a remarkable $3 billion in revenue within the next 5-7 years.
Gourineni provided insights into their strategic approach, explaining, "In the lead-acid battery sector, we are currently at approximately $1.2 billion in revenue. However, we are committed to expanding this figure to $3 billion over the next 6-7 years.
Our strategy hinges on global expansion, which not only enhances our price competitiveness but also allows us to command a premium for our advanced technologies."
Expanding on the company's diversification into the new energy sector, Gourineni emphasised that their success would be contingent on market development but could yield substantial long-term benefits. He highlighted the significant potential for growth in this segment.
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Discussing Amara Raja's strong presence in the telecom sector, Gourineni stated, "We have been leaders in the telecom market since the late 80s. Our introduction of cutting-edge technology has enabled us to capture a substantial 60 percent market share. In fact, it can be said that every other telecom tower is powered by our batteries."
Gourineni also recognised the evolving landscape of the telecom industry, particularly with the rollout of 5G technology. He underlined their ability to continue supplying replacements for existing infrastructure while also integrating lithium battery packs into new cell towers.
This move towards lithium technology signifies Amara Raja's commitment to global expansion and innovation in the telecom sector.
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