Neuron Energy, an electric vehicle (EV) battery manufacturer, has announced a partnership with Pointo, a provider of Battery-as-a-Service (BaaS). This collaboration aims to lease high-capacity lithium-ion batteries for commercial e-rickshaws in India. Beginning in August 2024, Neuron Energy plans to supply up to 12,000 5.1 kW lithium-ion batteries for L3 category e-rickshaws, facilitating a transition from lead-acid to lithium-ion technology.
India E-rickshaw Market Poised for Significant Growth
The Indian electric rickshaw market has experienced notable growth in recent years, with projections indicating continued expansion. According to industry reports, the market size reached USD 1.3 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 9.63%, potentially reaching USD 3.1 billion by 2032. This trend reflects a rising demand for eco-friendly and cost-effective transportation solutions in the country.
Environmental Benefits of Lithium-ion Batteries
The shift to lithium-ion batteries in e-rickshaws is expected to positively affect the environment. These batteries offer higher energy density and efficiency than lead-acid batteries, which may enhance vehicle performance and lower energy consumption. This transition has the potential to reduce carbon emissions and air pollution, contributing to a more sustainable transportation ecosystem in India.
Consumer Benefits of Battery Leasing
The battery leasing model from Neuron Energy and Pointo offers several advantages for e-rickshaw drivers. By leasing lithium-ion batteries, drivers can lower their initial costs, as they are not required to purchase the batteries outright. The leasing arrangement also includes maintenance services, which can help ensure optimal battery performance and alleviate some responsibilities for drivers. This approach aims to make electric mobility more accessible to e-rickshaw operators, thereby promoting the adoption of sustainable transportation solutions.
Commitment to Sustainable Mobility
Pratik Kamdar, CEO and Co-Founder of Neuron Energy, highlighted the company’s dedication to advancing sustainable mobility solutions. “This partnership with Pointo represents a crucial step in advancing sustainable mobility solutions. By ensuring a consistent and high-quality supply of lithium-ion batteries, we are committed to driving the future of electric mobility in India’s e-rickshaw market.”
The collaboration between Neuron Energy and Pointo emphasizes their commitment to fostering sustainable transportation and enhancing the Indian EV ecosystem. By utilizing their expertise and resources, they aim to promote the adoption of lithium-ion batteries in e-rickshaws, contributing to a cleaner and more efficient transportation system in the country.
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