Siemens Limited and the Hinduja group's Switch Mobility Automotive Limited have signed a Memorandum of Understanding (MoU) to play in the electric commercial vehicles segment.
Siemens also said Siemens Financial Services (SFS), the financing arm of Siemens AG, would consider a minority investment in OHM Global Mobility Private Limited, another Hinduja group company.
While Switch Mobility would bring in its electric commercial vehicles into India, Siemens would provide the charging infrastructure technology and charging infrastructure management software solution to enhance the energy-efficient operations of the chargers, Siemens said.
According to Siemens, it would also collaborate with Switch Mobility on new business models such as eMobility-as-a-Service (eMaas), integrated depot energy management, Vehicle-to-Grid (V2G) as well as on-site/off-site renewable energy sources by leveraging batteries from commercial vehicles.
"With our experience of more than 230 electric vehicles already in operation successfully in India and the UK, we see immense growth opportunities for Switch's expansion in India, Europe and many global markets," said Dheeraj Hinduja, Chairman, Switch Mobility.
"Siemens is a global leader in e-mobility solutions for commercial vehicles. We have been implementing projects for electric commercial vehicles across the globe. Together with Switch Mobility, we intend to implement high-quality techno-commercial solutions to address the needs of the growing e-mobility market in India," said Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited.
Switch Mobility Automotive and OHM Global Mobility are two Indian subsidiaries of commercial vehicles major Ashok Leyland Limited.
(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)
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