LOHUM partners with Nepal to supply EV battery materials
New Delhi, an Indian manufacturer of battery materials, has partnered with several organizations in Nepal’s electric vehicle (EV) ecosystem that are connected to the MG, Stellantis, and Tata EV brands. The expanded partnership will include other brands, including Mahindra EVs, Suzuki, VW, and Renault.
With the recycling of almost 200,000 batteries and the subsequent production of battery materials from the EV brands affiliated with these partners over the next five years, this cooperation seeks to assist Nepal in becoming energy self-sufficient.
LOHUM has a substantial market share in the battery recycling industry in India and has helped lower emissions in several other countries, including the US, Europe, the Middle East, Asia, and Africa. Through this partnership, LOHUM will oversee end-of-life batteries for the majority of EV manufacturers doing business in Nepal.
Nepal is taking steps to diversify its sources of raw materials for sustainable energy by joining into this collaboration. By supporting Nepal’s efforts for energy independence, India is also providing an alternative to the economic effects of other large nations. This action is in line with India’s larger objective of supporting a global energy transition that is inclusive and supports the Sustainable Development Goals (SDGs).
The Aarthik Vidheyak policy, which Nepal will introduce in FY 2023 and which addresses the management of end-of-life battery waste, provides a compliance option for Nepali EV stakeholders.
Senior V.P. of LOHUM, Mr. Chetan Jain, commented on the partnership, “Nepal is on the cusp of an EV revolution, and its government is taking forward actions for responsible end-of-life material disposal. LOHUM is taking a lead in fulfilling these requirements and ensuring Nepal’s energy self-reliance.”
The agreement is anticipated to affect the CO2 reduction for the majority of EVs in Nepal, and by recycling these materials, Nepal’s battery ecosystem can benefit from a continuous loop.
Content Credit:ET Auto