Mumbai EV battery maker start-up, Neuron Energy has formed a strategic partnership with EV maker E-Ashwa Automotive.
As per the understanding, E-Ashwa will purchase 600 battery packs per month and 10,000 battery packs annually.
It is therefore estimated that the deal will close at a whopping Rs 2 crores a month and Rs 30 crores annually.
Pratik Kamdar, Co-Founder, Neuron Energy said, “By partnering with E-Ashwa Automotive, Neuron Energy will expand its distribution network and offer environmentally friendly transportation in India. As a result of this tie-up, both companies will have the opportunity to provide their customers with battery packs and extend their reach across the country.”
“Furthermore, this will provide the platform for the growth of domestic players in the space and give the much-needed impetus to the “Make in India” and “Vocal for Local” movements. Also, it will parallelly aid us in penetrating every nook and corner of the country thus ensuring our reach everywhere.”, he added.
With rising eco-consciousness among general people coupled with rising prices of fossil fuels and ICE vehicles getting tough on the pockets to maintain, electric vehicles are becoming more appealing as an alternative.
So eco-friendly batteries are designed to provide an efficient and clean source of electricity for electric vehicles.
It is interesting to note that electric vehicles made up a massive 62 per cent of the total passenger category three-wheelers sold across the country in July 2022, an uptick of 48 per cent as compared to the sales in the corresponding month last year.
By 2030, the government expects the EV sales penetration to be 30 per cent for private vehicles, 70 per cent for commercial vehicles, and 80 per cent for two- and three-wheeler vehicles.
