Rio Tinto Invests In InoBat - Quick Facts

(RTTNews) - Rio Tinto (RTPPF.PK, RIO.L, RIO, RTNTF.PK) announced an investment in Inobat Auto, a European-based battery technology and manufacturing company. The investment will support the completion of InoBat's research and development centre and pilot battery line in Voderady, Slovakia.

"Our Jadar lithium project in Serbia is on the doorstep of the European electric vehicle market. We believe Jadar will be a critical supplier of the European battery ecosystem and, through our investment in InoBat, we hope that we can assist in making some of those batteries locally," said Marnie Finlayson, Managing director of Rio Tinto's battery materials business.

InoBat Auto specialises in the research, development, manufacture, and provision of premium innovative electric batteries custom-designed to meet the specific requirements of global mainstream and specialist OEMs within the automotive, commercial vehicle, motorsport, and aerospace sectors. It is backed by a consortium of investors and technology companies, including lead investor IPM Group.