Battrixx, a manufacturer of lithium-ion battery packs for electric vehicles, announced that it has acquired 100% of the shares in Pune-based Varos Technology Pvt. ltd for an unspecified amount.
The company, the battery division of Kabra Extrusiontechnik, part of the Kolsite Group, is making inroads into the two- and three-wheeler EV segment.
In order to create synergies between Battrixx’s products and services, Varos Technology will anchor its capabilities to develop end-to-end battery management systems by using cloud-based analysis tools based on artificial intelligence (AI) to predict battery life and to monitor battery performance, the company said in a statement.
The machine learning (ML) algorithms will provide constant inputs to adjust and improve battery performance,” he added.
“We expect this acquisition to generate very strong business synergies. Our vision to develop and produce green energy systems and solutions for OEMs and substation operators would be strengthened by Varos’ strong IoT capabilities and tools,” said Mr. Anand Kabra, Vice Chairman and Managing Director, Kabra Extrusiontechnik.