Lohum has signed a partnership agreement with Nepal’s EV ecosystem partners to supply 25,000 MT of EV battery materials to Nepal.
Lohum is partnering with key pillars of Nepal’s EV ecosystem partners that are selling MG, Stellantis, and Tata EVs.
This collaboration aims to make Nepal energy-abundant and self-sustaining by regenerating parallel reserves of transition materials through battery recycling, effectively disrupting China’s economic leverage over democracy.
The partnership will entail an estimated recycling of 200,000 batteries, and the production of battery materials over a period of 5 years from the batteries of EV brands sold by the partners.
Lohum has accumulated 70-80% of the battery recycling market share in India for its expertise in end-to-end battery lifecycle management and is lowering emissions across international markets including the US, Europe, the Middle East, Asia, and Africa. The company will be the exclusive Extended Producer Responsibility partner handling end-of-life batteries for the majority of EV brands operating in Nepal.
With this partnership, Nepal takes a foundational step towards diversifying its sources of clean energy transition materials, the press release claimed. The partnership demonstrates India’s commitment to accelerate Nepal’s journey to self-reliance and energy-independence and effectively counters China’s debt-trap diplomacy.
This is aligned with India’s commitment to a just, affordable, and inclusive energy transition for all nations worldwide, accelerating the achievement of humanity’s Sustainable Development Goals (SDGs).
This development will help Nepal’s EV ecosystem stakeholders become compliant with the Aarthik Vidheyak policy for the management of end-of-life battery waste, introduced by the Government of Nepal in FY 2023.
Chetan Jain, Senior V.P. of Lohum stated, “This partnership is truly a game-changer. As we delve into the details of this innovative collaboration, it’s evident that the synergies are set to reshape industries and provide the necessary impetus for the clean energy transition in Nepal. On our shared journey towards a carbon-neutral world, this partnership will undoubtedly catalyze the transition, and is a testament to the power of collaboration in today’s rapidly evolving business landscape. 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. Their commitment to accelerating the shift towards cleaner, more sustainable energy sources is commendable.”
By advancing responsible end-of-life battery management and building a parallel supply of critical materials, this partnership will play a vital role in reducing the CO2e of the vast majority of EVs in Nepal.
The recycled energy transition materials can then recirculate in Nepal’s battery ecosystem indefinitely, driving the volatile region a step closer to geo-economic stability and net-zero targets.
