This partnership will allow Stride Green partners to obtain an accurate battery valuation at the end of their lifecycle.
Lohum and Stride Green, an asset finance and management platform, have entered into a strategic partnership to facilitate the financing of electric vehicles (EVs). This collaboration focuses on underwriting the residual value of batteries, simplifying the financing process for EVs.
Through this partnership, Lohum will equip Stride Green with solutions for recycling and reusing EV fleet batteries. This collaboration ensures that Stride Green’s partners receive accurate valuations for their batteries as they approach the end of their usable lives, thereby optimizing CO2 reduction and extracting additional value from existing EV battery assets. The initiative is set to cover up to 5000 electric vehicles over the next few years.
Leveraging its advanced technological processes, Lohum is also providing Stride Green with a put option, which will help mitigate residual value risks and enhance its market penetration.
Chetan Jain, Senior Vice President – Business Operations at Lohum, praised Stride Green’s commitment to promoting deep-tech innovation. He mentioned that Stride Green’s incorporation of LOHUM’s advanced technologies for managing battery assets and EV fleets significantly contributes to advancing a clean energy transition both locally and within the broader ecosystem.
Vivek Jain, Co-founder and CBO of Stride Green, highlighted the importance of their partnership with Lohum, noting it as a critical progression in their battery lifecycle management capabilities. He explained that this collaboration aligns with their commitment to environmental responsibility and allows them to leverage LOHUM’s sophisticated technologies to maximize the value derived from EV batteries effectively.
This agreement brings together both companies’ commitment to sustainable electric mobility and innovative solutions for energy transition, which are proudly developed in India. It also aims to reduce the demand for raw materials from the mined, primary ecosystem battery, which is associated with significant ecological and humanitarian costs.
