This collaboration aims to make Nepal energy-abundant and self-sustaining by regenerating parallel reserves of transition materials through battery recycling, Lohum said in a statement.
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The partnership will entail an estimated recycling of 200,000 batteries, and the production of battery materials over five years from the batteries of EV brands sold by the partners, it said.
The company claims accumulating 70-80% of the battery recycling market share in India.
Lohum said it will be the exclusive extended producer responsibility partner handling end-of-life batteries for the majority of EV brands operating in Nepal.
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“This partnership is 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,” said Chetan Jain, senior vice president at Lohum.
