Battrixx acquires 100% stake in Varos Technology

Battrixx, the manufacturer of lithium-ion battery packs for e-vehicles, today (March 14) announced that it has acquired 100 percent stake in Pune-based Varos Technology Pvt. Ltd., pioneers in developing and leveraging IOT tools for EV infrastructure and battery management systems.

Battrixx, the battery division of Kabra Extrusiontechnik which is a part of Kolsite Group, has been making inroads into the two and three-wheeler EV segment. To facilitate its continuous growth in the overall segment and create a synergy between Battrixx products and services, Varos Technology will anchor its capabilities to develop end-to-end Battery Management Systems by leveraging cloud-based Artificial Intelligence (AI) driven analytic tools to help predict battery life and monitor battery performance. The Machine Learning (ML) algorithms will provide constant inputs in adjusting and improving battery performance, it said in a press statement.

“The collaboration with Varos Technology follows a recent proposal of Finance Minister Nirmala Sitharaman for the formulation of a battery swapping policy for EV charging stations. We expect very strong business synergies to be generated through this acquisition. Battrixx's vision of developing and producing green energy systems and solutions for OEMs as well as swapping station operators would be strengthened with strong IOT capabilities and tools of Varos,” said Anand Kabra, Vice Chairman and Managing Director, Kabra Extrusiontechnik.