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MUMBAI, 25 September 2023: In a strategic move to promote sustainable electric vehicle (EV) battery supply and reduce China’s dominance in the market, LOHUM has forged a groundbreaking partnership with Nepal’s EV industry. This collaboration includes prominent players such as MG, Stellantis, Tata EVs, and has plans to expand its reach to include Volkswagen, Suzuki, Renault, and Mahindra EVs. The overarching objective of this partnership is to make Nepal energy-independent, achieve battery recycling, and decrease China’s influence by regenerating materials. Over the next five years, LOHUM aims to recycle an impressive 200,000 batteries from partner EV brands.
Advancing Sustainability and Energy Independence
With a formidable presence in India’s battery recycling market, LOHUM commands a substantial 70-80 percent share, successfully managing the entire battery lifecycle. Beyond its national borders, the company is making strides in reducing global emissions. LOHUM will exclusively handle end-of-life batteries for most EV brands in Nepal, a pivotal step in fostering sustainability. This collaboration aligns seamlessly with LOHUM’s vision of creating a fair global green economy.
Empowering Nepal’s Clean Energy Transition
Nepal is committed to expanding its clean energy sector while safeguarding its sovereignty and resources. The partnership with LOHUM serves as a catalyst, diversifying Nepal’s clean energy sources and effectively countering China’s influence. It also accelerates the nation’s progress towards energy independence, aligning with India’s broader commitment to global energy transition. This strategic move further supports Nepal’s Aarthik Vidheyak policy for managing end-of-life battery waste.
A Transformative Partnership
Chetan Jain, the Senior VP of LOHUM, envisions this partnership as transformative, reshaping industries, and propelling Nepal’s clean energy transition. By advancing responsible battery management practices and securing essential materials, this collaboration significantly reduces the carbon footprint of EVs in Nepal. Consequently, it promotes economic stability and works towards achieving net-zero emissions.
