Amara Raja Batteries is looking at expanding product portfolio, including applications in solar and Defence, to reach the top slot in battery industry in both industrial and automotive sectors, company's vice chairman Jayadev Galla said today.
He hinted that the group may also look for inorganic growth to become a dominant player in the sector.
"We are also looking at emerging applications like solar, electric vehicles and Defence to expand our battery range. Our vision is to be top global player in the industrial batteries and to be a dominant regional player in the automotive batteries within the next decade.
"We explore both organic and inorganic opportunities to make this happen," Galla said at the inaugural function of 'Amara Raja Growth Corridor (ARGC)', a 500-acre industrial park near here.
He said the group's flagship company Amara Raja Batteries is currently enjoying 50 per cent market share in telecom battery segment, 30 per cent market share each in UPS and automotive battery segments.
"Today Amara Raja is among the top ten battery makers in the world. We are the largest battery manufacturers in the Indian ocean belt and also second largest automotive battery makers in the belt," he added.
According to him, Amara Raja Batteries has 27 sales and service centres and 1,500 channel partners across the country. It currently exports its products to 40 countries.
Andhra Pradesh Chief Minister N Chandrababu Naidu today inaugurated the ARGC built by the Amara Raja Group in the state's Chittoor District, about 80 kms from here.
The corridor is expected to attract investments of over Rs 4,500 crore in next three years, a company release said.
Andhra Pradesh government will extend its cooperation to entrepreneurs those willing to invest in the state.
The Chief Minister also laid foundation stone for a plastic moulding industry belonging to Amara Raja Group.