Following the announcement of Jupiter Wagons Ltd.’s subsidiary, Jupiter Electric Mobility (JEM), that it would acquire Log9’s Railway Battery and Electric Truck Battery businesses, the company’s stock rose more than 7% on October 31.

JEM’s position in the electric mobility market is intended to be strengthened by the acquisition, which includes Log9’s business and technological assets for its Railway Battery and Electric Truck Battery Divisions. Jupiter Wagons emphasised in an exchange filing that the action is a component of JEM’s strategic goal to promote innovation in India’s electric mobility market by providing cutting-edge battery solutions for Indian Railways and electric trucks.

The company said that by strengthening our commitment to sustainable and creative energy solutions, we are able to broaden our knowledge of electric mobility and railroads.

The company stated, “This acquisition marks a significant advancement in JEM’s mission to revolutionise the electric mobility landscape in India by expanding its portfolio with cutting-edge battery solutions tailored for both the electric truck segment and Indian Railways.”

JEM also gains control of Log9’s production and technical teams, which concentrate on railway and electric truck battery technology, as a result of the transaction. Additionally, JEM will purchase ownership of Log9’s production facility in Devanahalli, Bengaluru, to further solidify its presence in the market.

At 11:35 am, the shears of Jupiter Wagons were trading 3.60% higher at Rs 504.20 on NSE. 

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