Lohum has partnered Stride Green to ease the financing of electric vehicles through underwriting the residual value of batteries. Lohum will help Stride Green to provide new age EV fleet battery recycling and reuse solutions to its partners. With this collaboration, Stride Green partners would receive the right valuation for the battery after its capacity falls; it will not only reduce carbon emissions but also enable additional value extraction from existing EV battery assets.
“We applaud Stride Green’s dedication to supporting deep-tech innovation through LOHUM as a technology partner. By adopting Lohum’s technologies for battery asset and EV Fleet management, Stride Green has taken yet another leap towards accelerating the clean energy transition at home and across the ecosystem,” said Chetan Jain, Senior Vice President – Business Operations of Lohum.
Vivek Jain, Co-founder and CBO at Stride Green added “This partnership with Lohum marks a significant step in enhancing our battery lifecycle management capabilities. This collaboration aligns with our commitment to environmental stewardship and allows us to leverage LOHUM’s advanced technologies to optimise value from EV batteries efficiently.”
Additionally, Lohum has revealed its plans to invest INR 2,000 crore in a new plant at Krishnagiri, Tamil Nadu to produce Cathode Active Material (CAM) over a six-year period. Cathode Active Material (CAM) is used in manufacturing batteries.