Inobat Auto, a “premium battery technology and manufacturing company”, has received a €10 million (£8.35m) investment from Ideanomics, an American EV group that specialises in commercial fleet operations.
The deal values Inobat at the mid-hundreds of millions of pounds.
The Ideanomics cash injection follows similar deals that mining conglomerate Rio Tinto and Indian battery group Amara Raja made with Inobat late last year.
For Autocar Business webinars and podcasts, visit Autocar Business Insight
The news comes as Ideanomics seeks to derisk its battery supply chain across its mobility companies.
