Attracted by India’s electric vehicle (EV) potential, Swiss stock exchange-listed Leclanché SA plans to partner with SUN Mobility for developing battery storage solutions.
Battery costs hold the key to India’s ambitious plans for a mass shift to electric vehicles by 2030, and the proposed joint venture (JV) could be an attempt to address this issue.
Leclanché has been providing battery storage solutions since 1909. SUN Mobility is an equal joint venture between Chetan Maini’s Virya Mobility 5.0 and SUN New Energy Systems that specializes in electric mobility and clean energy. The company is led by Maini, founder of electric vehicle Reva and Uday Khemka, vice-chairman of the SUN Group.
The government is expecting EV prices to drop over the next five years and trigger a shift from internal-combustion vehicles to those powered by electricity. To prepare itself, SUN Mobility is also getting the other EV pieces ready with a strategic alliance with Ashok Leyland Ltd announced in July to develop electric mobility solutions.