Chinese-owned co picks stake, director in Agratas

New Delhi/Bengaluru: A Chinese-owned electric vehicle (EV) battery maker with origins and base in Japan has picked up a stake in Tata Group's flagship EV battery company, and appointed its top lawyer to its board of directors.

- Ayaan Kartik & Varun Sood

Yokohama, Japan-headquartered AESC Group Ltd bought a 12% stake in Agratas Energy Storage Solutions Pvt. Ltd for ₹166 crore in March 2025. Tata Sons invested ₹484 crore for 88% stake, according to Agratas's filings with the ministry of corporate affairs that Mint has seen.

Alongside, Gordon Louis Chin, general counsel of AESC Group, which is owned by Chinese energy technology company Envision, was made a director on Agratas's board.

Tata Group chairman N. Chandrasekaran and P.B. Balaji—Tata Motors chief financial officer and soon-to-be chief executive officer of Jaguar Land Rover—are also on Agratas's board.

This is the first time the Tatas have acknowledged the role of a Chinese-owned company in its battery business. It's also the first time a new-age business of Tata group has attracted foreign investment and appointed a member to its board. Agratas has also secured more than ₹1,200 crore in investments from Tata Sons since its inception in 2023.

The deepening of ties between Agratas and AESC Group comes at a time when Indian automakers are facing the brunt of export restrictions imposed by China on rare earth magnets, which started in April.

Email queries sent to both companies remained unanswered till press time.

While Agratas has got AESC as an investor and on its board, Mint could not independently ascertain if the two companies would collaborate on technology.