Eastman, Vande Bharat E-Vehicles sign MoU for lithium-ion battery tech
As part of this partnership, India’s Eastman Auto & Power will supply lithium-ion batteries worth USD 5.8 million annually to Vande Bharat E-Vehicles to power its e-rickshaws.
Indian companies Eastman Auto & Power and Vande Bharat E-Vehicles have signed an MoU to collaborate on the deployment of advanced lithium-ion battery technology for the country’s fast-growing EV sector.
As part of this partnership, Eastman will supply lithium-ion batteries worth INR 500 million (about USD 5.8 million) annually to Vande Bharat E-Vehicles to power its e-rickshaws.
“This partnership marks a significant milestone for Eastman as we join forces with Vande Bharat E-Vehicles to accelerate the growth of electric mobility in India,” Shekhar Singal, Managing Director, Eastman Auto and Power, said. “Our cutting-edge lithium-ion battery technology, combined with their large fleet of E-Rickshaws, will play a pivotal role in making sustainable transportation a reality for millions. We are proud to contribute to India’s vision of reducing carbon emissions and building a cleaner energy future.”
“We are thrilled to partner with Eastman in this transformative collaboration. Our mission is to provide reliable, cost-effective, and sustainable mobility solutions,” Sumit Anand, Director, Vande Bharat E Vehicles, said. “This MoU is a critical step forward as we work together to empower drivers, enable greener logistics, and bring India closer to its net-zero goals.”
Headquartered in Gurugram in the northern Indian state of Haryana, Eastman Auto & Power Limited operates in the fields of solar energy, energy storage and power electronics, with a revenue of USD 420 million and a workforce of over 3,000 professionals.
