Ashok Leyland signs LoI with Phinergy to meet energy requirements of comm vehicles

ANI | Updated: Jan 17, 2018 21:18 IST

Chennai (Tamil Nadu) [India], Jan 17 (ANI): Flagship of the Hinduja Group, Ashok Leyland, on Wednesday 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.

"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," said CEO, Phinergy, Aviv Tzidon.

"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," he added.

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.

"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 head - EV and eMobility solutions, Ashok Leyland, Karthick Athmanathan.

"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," said head of eMobility tech, Ashok Leyland, S.A. Sundaresan. (ANI)

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