Eastman Auto and Power Ltd., a market leader in the Indian energy storage sector through its subsidiary, Eastman New Energy Private Limited has announced a strategic partnership with MTOW Mobility Private Limited, (Urja Mobility).
The two companies have signed a Memorandum of Understanding (MoU) to collaborate on the development and deployment of advanced lithium-ion battery technology for the electric vehicle (EV) sector in India. As part of the collaboration, Urja Mobility has decided to engage Eastman for supplying 20,000+ lithium-ion batteries to execute the battery leasing solution across the country. Eastman will integrate Urja Mobility’s IoT and software solutions into its lithium battery products to enable remote monitoring and analytics.
This collaboration is set to drive innovation and accelerate the adoption of electric mobility in the country, contributing significantly to the nation’s sustainability goals. By combining Eastman’s expertise in lithium-ion batteries with Urja Mobility’s solution of battery leasing for electric three-wheelers, the partnership is poised to revolutionize the electric vehicle market and provide more efficient and eco-friendly transportation options for consumers.
Eastman being market leader in e-rickshaw batteries, this partnership will further bolster the strong position for lithium batteries in electric three-wheeler market.
Commenting on the partnership, Shekhar Singal, Managing Director, Eastman Auto and Power Ltd. said, “This partnership marks a significant milestone for Eastman as we join forces with Urja Mobility to accelerate the growth of electric mobility in India. Our cutting-edge lithium-ion battery technology, combined with Urja Mobility’s innovative battery leasing solution for electric three-wheelers, will play a crucial role in making sustainable transportation a reality for millions of people across the country. We are proud to contribute to India’s vision of reducing carbon emissions and advancing renewable energy solutions.”
Commenting on the partnership, Pankaj Chopra, Co-Founder & Director, Urja Mobility added, “We are thrilled to partner with Eastman in this transformative collaboration. As a company committed to advancing electric mobility, we believe that, by providing a cost-effective, reliable, and sustainable battery solution, we aim to empower drivers and contribute to India’s vision for a greener future. This MoU is a big step forward in our mission to revolutionize transportation in India.”
This collaboration between Eastman and Urja Mobility represents a significant step forward in India’s transition to sustainable transportation, and both companies are excited to work together to create a greener, more energy-efficient future.