August 9, 2023

LOHUM and Vecmocon partner to accelerate EV battery adoption & enable easy financing.

Press Release

The partnership aims to accelerate second-life battery use and power 100,000 LIB-enabled EVs over 2 years with AI-powered BMS by determining battery residual value.

LOHUM, India’s largest producer of sustainable energy transition materials and Vecmocon, a leading Indian EV intelligence company backed by Tiger Global & Blume Ventures, have joined forces to revolutionize the lifecycle management of electric vehicle (EV) batteries. This strategic partnership aims to accelerate the widespread adoption of EVs by combining the pioneering battery testing technology of LOHUM and battery intelligence & real-time data monitoring capabilities of Vecmocon.

The partnership’s technological collaboration will make batteries safer, more reliable, and long-lasting, powered by cutting-edge battery analytics. Vecmocon will integrate its crucial data attributes collected in real-time, powered by Machine Learning algorithms, with LOHUM’s data systems, sharing important battery parameters collected through Vecmocon’s i-VEC™ drive offering. This partnership will ensure the optimal utilization of EV batteries, extending battery life, enabling second-life usage and facilitating optimal recycling of Li-ion batteries.

LOHUM’s pioneering expertise in battery second life is powered by advanced algorithms and testing technologies that estimate the remaining useful life (RUL) of batteries. LOHUM’s battery residual value determination capabilities will now be augmented by Vecmocon’s innovative Vehicle Intelligence Platform, and boost the accuracy of LOHUM’s DETX™ platform (Battery Buyback & Battery Materials Price Index) in predicting the value of batteries over time, and drive recycling decisions for end-of-life batteries. The collaboration thus unlocks best-in-industry precision for evaluating the value of battery assets.

Through a combined offering of an AI-powered battery management system (BMS), and vehicle intelligence module, Vecmocon and LOHUM plan to power over 100,000 batteries in the next two years. This ambitious undertaking will be a game changer in reducing EV financing and insurance costs while also bringing transparency to the used energy transition asset ecosystem, accelerating faster adoption of Electric Vehicles in India.

“Vecmocon and LOHUM share a common vision of a cleaner and more sustainable future, and this strategic partnership is a significant step toward achieving that goal. By combining our expertise and resources, we aim to drive the widespread adoption of electric vehicles in India and revolutionize the way we use and recycle batteries. This collaboration will help our clients in improving the performance of their batteries & extending life thus improving vehicle performance. This collaboration will also help the complete EV ecosystem of service, insurance, finance and used vehicle marketplaces.” We are super excited to partner with LOHUM in our journey. – Peeyush Asati, Founder & CEO, Vecmocon.

“We are thrilled to collaborate with Vecmocon, as the partnership aligns perfectly with our shared mission of advancing sustainable technologies. Vecmocon’s mission of making EVs intelligent & safe via its cutting-edge technology by harnessing the power of advanced battery analytics significantly aligns with our core capabilities of enabling 2nd life use of batteries. Together, we will contribute to a closed loop circular economy and create a more sustainable ecosystem for electric vehicles in India.” – Rajat Verma, Founder & CEO, LOHUM.

Vecmocon and LOHUM are transforming the EV landscape in India, making electric vehicles safer, more reliable, and economically viable. This partnership integrates both companies’ cutting-edge technologies to contribute to a low-carbon future effectively.

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