JBM, CESL sign MoU to set up electric mobility ecosystem

JBM Renewables, part of the 2.2 billion dollar JBM Group, on Monday signed a memorandum of understanding with Convergence Energy Services Ltd (CESL), a wholly-owned subsidiary of Energy Efficiency Services Ltd (EESL), for setting up an integrated ecosystem for charging of electric vehicles.

JBM and CESL will jointly bring in synergies to drive implementation of EV charging infrastructure across India.

Under the three-year MoU, both compes will invest, install, commission, operate and maintain the facilities. They will also optimise current charging stations and exploring avenues for second-use applications of EV batteries for storage and grid management purposes.

As a pilot project, JBM and CESL will work towards creating an integrated EV ecosystem platform comprising of renewable energy, energy storage systems and EV charging solutions. For demand generation, CESL will explore business models and availability of potential customer segments.

"Increasing electric vehicles on Indian roads needs an ecosystem way of thinking and to that extent, I am so pleased to see JBM carry that vision," said Mahua Acharya, CEO and Managing Director of CESL.

"The MoU is an exciting development because it brings together like-minded entities to work together entrepreneurially to help build this out. JBM is an industry stalwart, and we look forward to establishing a deep and lasting relationship," she said.

Vice Chairman of JBM Group Nishant Arya said the automotive industry is transforming radically with disruptive technologies taking the world's mobility ecosystem towards self-sustainable products and solutions.

"Our eco-friendly electric buses, EV charging solutions, battery manufacturing capabilities and renewable energy offerings are mfestations of this change," he said.

The project will also include establishment of various aspects of an electric vehicle ecosystem in Goa. The scope of collaboration also includes working together for charging stations on highways and other areas that become necessary.

( With inputs from ANI )