Lohum and Stride Green have formed a strategic partnership to facilitate the financing of electric vehicles by guaranteeing the residual value of their batteries. The alliance enables Stride Green to offer its partners cutting-edge EV fleet battery recycling and reuse solutions through Lohum’s expertise.
The collaboration allows Stride Green’s partners to enhance CO2 reduction efforts and extract more value from existing EV battery assets while ensuring fair valuation of the batteries at the end of their lifecycle. The initiative aims to cover up to 5,000 electric vehicles over the next few years.
Leveraging its technological processes, Lohum is providing a put option for Stride, reducing the market entry risks associated with residual battery value.
Chetan Jain, Senior Vice President of Business Operations at Lohum, remarked that Stride Green is making significant strides towards accelerating the clean energy transition both domestically and within the broader ecosystem.
Vivek Jain, CBO and co-founder of Stride Green, highlighted that the partnership aligns with their commitment to environmental stewardship and maximizes the value derived from EV batteries.
As reported by manufacturingtodayindia.com, the collaboration also mitigates the demand for newly mined, primary battery raw materials, which have significant ecological and humanitarian impacts. It combines the two companies’ dedication to sustainable electric transportation and innovative, Made-in-India energy transition solutions.
