Lithium-ion battery recycling firm Lohum enters Nepal
The partnership will entail an estimated recycling of 2,00,000 batteries, and the production of battery materials over a period of five years from the batteries of EV brands sold by the partners
Lithium-ion battery recycling firm Lohum has announced its entry in Nepal with plans to supply 25,000 MT of electric vehicle battery materials to multiple partners dealing with major automobile brands in the Himalayan nation.
This collaboration aims to make Nepal energy-abundant and self-sustaining by regenerating parallel reserves of transition materials through battery recycling, Lohum said in a statement.
The partnership will entail an estimated recycling of 2,00,000 batteries, and the production of battery materials over a period of five years from the batteries of EV brands sold by the partners, it said.
The company claims accumulating 70-80 per cent of the battery recycling market share in India.
Lohum said it will be the exclusive extended producer responsibility partner handling end-of-life batteries for the majority of EV brands operating in Nepal. "This partnership is a game-changer. As we delve into the details of this innovative collaboration, it's evident that the synergies are set to reshape industries and provide the necessary impetus for clean energy transition in Nepal,” said Chetan Jain, senior Vice President at Lohum.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI Guaranteed Return Scheme: Know how much maturity amount you will get on Rs 2 lakh, 2.5 lakh, 3 lakh, 3.5 lakh and Rs 4 lakh investments under Amrit Vrishti FD scheme
SBI Senior Citizen Latest FD Rates: What senior citizens can get on Rs 7 lakh, Rs 14 lakh, and Rs 21 lakh investments in Amrit Vrishti, 1-, 3-, and 5-year fixed deposits
SIP+SWP: Rs 10,000 monthly SIP for 20 years, Rs 25 lakh lump sum investment, then Rs 2.15 lakh monthly income for 25 years; see expert calculations
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
SBI Senior Citizen FD Rate: Here's what State Bank of India giving on 1-year, 3-year, 5-year fixed deposits currently
01:14 PM IST