Varos Technology is acquired by Battrixx for a 100 percent share
- ByStartupStory | March 15, 2022
Battrixx, a lithium-ion battery pack maker for e-vehicles, said that it has purchased a 100 percent ownership in Pune-based Varos Technology Pvt. Ltd. for an undisclosed sum.
The company, which is part of the Kolsite Group’s Kabra Extrusiontechnik, has been making advances into the two- and three-wheeler EV category.
Varos Technology will use cloud-based Artificial Intelligence (AI)-driven analytic tools to help anticipate battery life and monitor battery performance to build synergy between Battrixx’s products and services also Machine Learning (ML) algorithms will provide continuous feedback for regulating and enhancing battery performance, according to a release.
Varos Technology is dedicated to developing solutions that extend the life and increase the performance of lithium-ion batteries used in electric vehicles and energy storage systems.
Kabra Extrusion Technik Limited’s stock last traded at Rs. 485.30 on the BSE, compared to a previous closing of Rs. 457.60. During the day, 4425 shares were exchanged in 452 deals, for a total of 4425 shares traded.
The stock traded at a high of Rs. 494.35 and a low of Rs. 456.05. The total day’s net turnover was Rs. 2100816.00.
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