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Kabra Extrusiontechnik shares soar after battery packs partnership with Hero Electric

Kabra Extrusiontechnik shares soar after battery packs partnership with Hero Electric

Kabra Extrusiontechnik shares soar after battery packs partnership with Hero Electric
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By CNBCTV18.com Nov 21, 2022 12:51:22 PM IST (Published)

According to Hero Electric, the new battery packs will deliver a seamless performance while maintaining the highest levels of safety.

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Shares of Kabra Extrusiontechnik Ltd, which manufactures lithium-ion batteries under the Battrixx brand, soared over 15 percent on Monday after the company announced a partnership with Hero Electric.
The company's Battrixx brand has launched ‘Ultra Safe’ battery packs in partnership with Hero Electric for the latter’s electric two-wheeler range.
Under the partnership, Battrixx will power the electric two-wheeler range of Hero Electric. The target is to supply 3 lakh battery packs and chargers in the next financial year based on Hero Electric’s projections.
The battery packs have been conceptualised and designed in-house with Hero’s R&D team. These are the latest technology batteries electrifying Hero Electric’s entire e-scooter range. This partnership also supports battery safety advancements, reliability, and performance and fully supports Hero's production line-up to meet the rising e2W demand.
Battrixx is a division of Kabra Extrusiontechnik Ltd. (KET), which belongs to the Rs 1,500 crore Kolsite Group.
According to Kabra Extrusiontechnik Limited, Battrixx is a crucial manufacturer for advanced lithium-ion battery packs across sectors.
According to Hero Electric, the new battery packs will deliver a seamless performance while maintaining the highest levels of safety.
The technology allows battery packs to carry their operations smoothly and safely in diverse temperature ranges. Even if the temperatures go up to 45°C, there are negligible chances of a thermal runaway.
Shares of Kabra ExtrusionTechnik are trading 17 percent higher at Rs 484.
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