Lohum and Stride Green partner for sustainable EV financing

They partner to enhance EV financing and battery recycling for up to 5,000 EVs, reducing CO2 and mitigating residual value risks.

New Delhi- Lohum Cleantech Pvt. Ltd., a manufacturer of Li-ion battery packs and Stride Green Capital Private Limited., an asset finance and management platform has partnered to facilitate EV financing by underwriting battery residual value. Lohum will help Stride Green recycle and reuse EV batteries, ensuring accurate valuations and optimizing CO2 reduction. Covering up to 5,000 EVs, this initiative extracts additional value from existing assets. Lohum's advanced tech includes a put option, mitigating residual value risks and boosting market penetration.

Mr. Chetan Jain, Senior Vice President-Business Operations at Lohum, said, Stride Green’s commitment to promoting deep-tech innovation. He mentioned that Stride Green’s incorporation of LOHUM’s advanced technologies for managing battery assets and EV fleets significantly contributes to advancing a clean energy transition both locally and within the broader ecosystem.

Mr. Vivek Jain, Co-founder and CBO of Stride Green, highlighted the importance of their partnership with Lohum, noting it as a critical progression in their battery lifecycle management capabilities. He explained that this collaboration aligns with their commitment to environmental responsibility and allows them to leverage LOHUM’s sophisticated technologies to maximize the value derived from EV batteries effectively.

This agreement showcases both companies' commitment to sustainable electric mobility and innovative energy transition solutions developed in India. It aims to reduce the demand for raw materials from primary batteries, which have significant ecological and humanitarian costs.