Leasing of lithium-ion batteries for 3-wheelers to be rolled out soon in Kolkata

Source : PTI | On the streets of Kolkata and surrounding areas, e-rickshaws, popularly known as ‘toto’, are set to be powered by lithium-ion batteries with the rolling out of a battery leasing model, officials said on Sunday. Neuron Energy, a lithium-ion battery maker, has joined hands with Urja Mobility to spearhead the leasing model which has so far been heard only in the business-to-business EV sector, they said.

“We’re kick-starting this journey from Bengal, offering lithium-ion batteries for e-rickshaws on a lease model with our financing partner, Urja Mobility. Our sights are set on expanding to other markets soon,” said Pratik Kamdar, CEO & Co-Founder of Neuron Energy.

This will empower e-rickshaws, with GPS-enabled lithium-ion batteries, zipping through the lanes of Kolkata, he said.

“Together, we are targeting a fleet of 50 lakh e-rickshaws across the country, with a significant number in this state, aiming to replace the outdated lead-acid batteries with modern, efficient, and environmentally friendly alternatives in a lease model,” he said.

For users, leasing is similar to paying EMI as pay-per-use without owning the asset.

A lithium-ion battery is also cost-effective in the long run due to its durability but the entry price is still at least twice that of a lead acid battery, he said.