Siemens, Switch Mobility sign MoU for EV charging solutions
As part of the MOU, Siemens Financial Services (SFS), the financing arm of Siemens AG, will consider a minority investment in OHM Global Mobility Private Ltd., the eMaas platform company to be formed as a subsidiary of Switch Mobility Automotive Limited.
Siemens has signed a Memorandum of Understanding (MOU) with Switch Mobility Automotive Limited to jointly work in the electric commercial vehicle segment in India.
Under the MoU, Switch Mobility, which is owned by the Hinduja Group and an arm of Ashok Leyland, will bring in its electric commercial vehicles into India, while Siemens would provide the charging infrastructure technology and charging infrastructure management software solution to enhance the energy-efficient operations of the chargers.
The partnership is aimed at delivering efficient, cost-effective and sustainable E-Mobility solutions to various commercial vehicle customers in India.
The two companies will collaborate 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.
Switch Mobility has over 230 electric vehicles already in operation in India and the U.K. The company sees growth opportunities for expansion in India, Europe and many Global markets.
As part of the MOU, Siemens Financial Services (SFS), the financing arm of Siemens AG, will consider a minority investment in OHM Global Mobility Private Ltd., the eMaas platform company to be formed as a subsidiary of Switch Mobility Automotive Limited.
Source: team
