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 provide Stride Green with solutions for recycling and reusing EV fleet batteries. This collaboration guarantees accurate valuations for Stride Green’s partners’ batteries as they near the end of their usable lives, optimizing CO2 reduction and extracting additional value from existing EV battery assets. The initiative aims to cover up to 5,000 electric vehicles in the coming years.
Additionally, Lohum is leveraging its advanced technological processes to offer Stride Green a put option, which will help mitigate residual value risks and enhance market penetration.
Chetan Jain, Senior Vice President of Business Operations at Lohum, commended Stride Green’s dedication to fostering deep-tech innovation. He noted that Stride Green’s integration of Lohum’s advanced technologies for managing battery assets and EV fleets significantly aids in advancing the clean energy transition both locally and within the wider ecosystem.
Vivek Jain, Co-founder and CBO of Stride Green, emphasized the importance of their partnership with Lohum, calling it a crucial step in enhancing their battery lifecycle management capabilities. He stated that this collaboration aligns with their commitment to environmental responsibility and enables them to leverage Lohum’s sophisticated technologies to maximize the value derived from EV batteries.
This agreement unites both companies’ dedication to sustainable electric mobility and innovative energy transition solutions, proudly developed in India. It also seeks to reduce the demand for raw materials from mined primary ecosystem batteries, which come with substantial ecological and humanitarian costs.
