Lohum, one of India’s largest producers of sustainable energy transition materials and Vecmocon, a leading EV intelligence company backed by Tiger Global & Blume Ventures, have joined forces for the lifecycle management of electric vehicle (EV) batteries.
The strategic partnership aims to accelerate the widespread adoption of EVs by combining the battery testing technology of Lohum and the battery intelligence & real-time data monitoring capabilities of Vecmocon.
Lohum’s battery residual value determination capabilities will now be augmented by Vecmocon’s Vehicle Intelligence Platform, and boost the accuracy of Lohum’s DETX platform (Battery Buyback & Battery Materials Price Index) in predicting the value of batteries over time, and drive recycling decisions for end-of-life batteries.
The partners plan to power over 100,000 batteries in the next two years. Peeyush Asati, Founder & CEO, Vecmocon said, “By combining our expertise and resources, we aim to drive the widespread adoption of electric vehicles in India and revolutionise the way we use and recycle batteries. This collaboration will help our clients in improving the performance of their batteries and extending life thus improving vehicle performance. This collaboration will also help the complete EV ecosystem of service, insurance, finance and used vehicle marketplaces.”
Rajat Verma, Founder & CEO, Lohum said, “Vecmocon’s mission of making EVs intelligent and safe via its cutting-edge technology by harnessing the power of advanced battery analytics significantly aligns with our core capabilities of enabling second life use of batteries.”
