New Delhi; September 21, 2023: LOHUM, India’s largest producer of sustainable energy transition and battery materials through integrated recycling, repurposing, and refining, is partnering with key pillars of Nepal’s EV ecosystem partners that are selling MG, Stellantis, and Tata EV’s. The diverse pool of EV sector partners will also eventually include Volkswagen, Suzuki, Renault, and Mahindra EVs enter recycling, among others.
This collaboration aims to make Nepal energy-abundant and self-sustaining by regenerating parallel reserves of transition materials through battery recycling, effectively disrupting China’s economic leverage over the democracy. The partnership will entail an estimated recycling of 200,000 batteries, and the production of battery materials over a period of 5 years from the batteries of EV brands sold by the partners.
LOHUM has accumulated 70-80% of the battery recycling market share in India for its expertise in end-to-end battery lifecycle management, and is lowering emissions across international markets including US, Europe, the Middle East, Asia, and Africa. The company will be the exclusive Extended Producer Responsibility partner handling end-of-life batteries for the majority of EV brands operating in Nepal. The partnership aligns with LOHUM’s vision of a ‘fair and just world’, where every nation can self-sustain a thriving green economy, powered by low-cost solutions that can be financed easily and reliably.
Nepal has been grappling with a solution to upscale its clean energy capacity in a way that does not sacrifice its sovereignty, economy, and natural resources. With this partnership, Nepal takes a foundational step towards diversifying its sources of clean energy transition materials. The partnership demonstrates India’s commitment to accelerate Nepal’s journey to self-reliance and energy-independence, and effectively counters China’s debt-trap diplomacy. This is aligned with India’s commitment to a just, affordable, and inclusive energy transition for all nations worldwide, accelerating the achievement of humanity’s Sustainable Development Goals (SDGs).
This development will help Nepal’s EV ecosystem stakeholders become compliant with the Aarthik Vidheyak policy for management of end-of-life battery waste, introduced by the Government of Nepal in FY 2023.
Mr. Chetan Jain, Senior V.P. of LOHUM, stated, “This partnership is truly a game-changer. As we delve into the details of this innovative collaboration, it’s evident that the synergies are set to reshape industries and provide the necessary impetus for clean energy transition in Nepal. On our shared journey towards a carbon-neutral world, this partnership will undoubtedly catalyze the transition, and is a testament to the power of collaboration in today’s rapidly evolving business landscape. Nepal is on the cusp of an EV revolution, and its government is taking forward actions for responsible end-of-life material disposal. LOHUM is taking a lead in fulfilling these requirements and ensuring Nepal’s energy self-reliance. Their commitment to accelerating the shift towards cleaner, more sustainable energy sources is commendable.”
By advancing responsible end-of-life battery management and building a parallel supply of critical materials, this partnership will play a vital role in reducing the CO2e of the vast majority of EVs in Nepal. The recycled energy transition materials can then recirculate in Nepal’s battery ecosystem indefinitely, driving the volatile region a step closer to geo-economic stability and net zero targets.
Rajat Verma already recovers raw materials from used cells at his venture, Lohum Cleantech. He wants to close the loop by making cells in India as well.
In an interaction with AutoStory, Rajat Verma, Founder and CEO of Lohum Cleantech, speaks about building his company, and about battery manufacturing and repurposing as an industry.
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Recognized as ‘The Most Innovative Company of the year 2022’ by The Confederation of Indian Industry (CII), Lohum is a producer of sustainable Li-ion battery raw materials