Siemens Limited has signed a Memorandum of Understanding (MoU) with Hinduja group‘s Switch Mobility Automotive Limited to play in the electric commercial vehicles segment and its financing arm, Siemens Financial Services (SFS), 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 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.
Hinduja Group has more than 230 electric vehicles already in operation successfully in India and the UK and they see immense growth opportunities for Switch’s expansion in India, Europe and many global markets.
Switch Mobility Automotive and OHM Global Mobility are two Indian subsidiaries of commercial vehicles major Ashok Leyland Limited.
This is a Businesswire Feed; edited by Clean-Future Team