Thursday, Apr 25 2024 | Time 04:28 Hrs(IST)
image
Business EconomyPosted at: Jan 17 2018 1:41PM


Ashok Leyland signs LoI with Phinergy, Israel for High Energy EV Commercial Vehicle Solutions

Mumbai Jan 17(UNI) Commercial Vechile Major, Ashok Leyland, took the next step to secure long-term arrangements for its EV Commercial Vehicles by signing a Letter of Intent (LoI) with Phinergy of Israel. With the intention of providing varying Energy Management solutions to the customers, Ashok Leyland and Phinergy will work towards the adaptation of unique, competitive, and sustainable solutions for high-energy applications in the commercial vehicles space.
Phinergy of Israel has developed cutting edge technology solutions for the use of Aluminium Air Batteries for EV and other applications. With Ashok Leyland, Phinergy will be tailoring its unique technology to meet the demanding high-energy requirements of Commercial Vehicles in the Indian market., Ashok Leyland Release
said.
''As the EV market evolves in India, Ashok Leyland, remains committed to developing differentiated solutions for our customers to help them stay competitive. We see good potential for Phinergy’s technology in India. This will add further to our various portfolios for Commercial Vehicle EVs, where we are committed to offering our
customers competitive solutions with various options that use cutting edge technology'', said Mr. Karthick Athmanathan, Head - EV and eMobility Solutions, Ashok Leyland.
''Over the next few months, we will develop the first few prototypes and trial pilots on different platforms in order to better tune Phinergy’s offering for various CV applications. Our approach to EV Commercial Vehicles will continue to be such that we move people and goods rather than batteries, with optimal use of battery
capacities'', added Mr. S.A. Sundaresan, Head of eMobility Tech, Ashok Leyland.
''We are excited to be part of India’s EV ecosystem and are happy to be offering our technology for CV applications through this relationship with a strong Indian player like Ashok Leyland who also have a commanding global presence. We believe that our high technology solution will help the Indian customer to keep costs low while addressing range anxiety and reliability. We look forward to rapidly developing our offering and scaling up operations for CV applications in India with Ashok Leyland, with whom we have worked closely over the last year'', said Mr. Aviv Tzidon, CEO of Phinergy.
''Given the Grid and Power position in most markets, this will be the first time EV Commercial Vehicles will have a Grid-independent solution that is cost-effective as well as emission-free'', added Mr. David Mayer, VP of Business Development for Phinergy.
UNI JS NV
Please log in to get detailed story.
Tags: #Ashok Leyland signs LoI with Phinergy# Israel for High Energy EV Commercial Vehicle Solutions
More News

NSE launches derivatives on Nifty Next 50 Index

24 Apr 2024 | 9:16 PM

Mumbai, Apr 24 (UNI) National Stock Exchange of India Ltd (NSE), the world’s largest derivatives exchange for consecutive fifth year in a row in the year 2023 based on contracts traded as published by FIA, launched futures and options contracts on the Nifty Next 50 Index on Wednesday.

see more..

KABIL signs MoU with CSIR-NGRI for geophysical investigations

24 Apr 2024 | 7:47 PM

Bhubaneswar, April 24 (UNI) Khanij Bidesh India Limited (KABIL) has signed a Memorandum of Understanding (MoU) with the Council of Scientific and Industrial Research - National Geophysical Research Institute (CSIR-NGRI) to foster a long-term collaboration in the field of geophysical investigations to bolster its ongoing projects and activities in critical and strategic minerals.

see more..

Dish TV revolutionises entertainment with ‘Dish TV Smart+’ services

24 Apr 2024 | 7:31 PM

Kolkata, Apr 24 (UNI) Dish TV has taken a path-breaking initiative to redefine the entertainment experience in India.

see more..

TRAI recommends sharing of active, passive infra by telecom providers

24 Apr 2024 | 7:03 PM

New Delhi, April 24 (UNI) With a view to improve quality of services and reducing cost, the telecom regulator TRAI on Wednesday recommended sharing of active and passive infrastructure among telecom service providers, a move that would help setting up network quickly across the nation.

see more..

REC to provide loan of Rs 1869 cr to Chenab Valley Power Project in J&K

24 Apr 2024 | 6:38 PM

New Delhi, April 24 (UNI) State-owned non-banking finance company REC Limited has signed an agreement with Chenab Valley Power Project Private Limited (CVPPPL), under which it will provide financial assistance of Rs 1,869.265 crore as a term loan.

see more..
image