Mumbai, Sep 21 (PTI) Lithium-ion battery recycling firm Lohum has announced its entry in Nepal with plans to supply 25,000 MT of electric vehicle battery materials to multiple partners dealing with major automobile brands in the Himalayan nation.

This collaboration aims to make Nepal energy-abundant and self-sustaining by regenerating parallel reserves of transition materials through battery recycling, Lohum said in a statement.

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The partnership will entail an estimated recycling of 2,00,000 batteries, and the production of battery materials over a period of five years from the batteries of EV brands sold by the partners, it said.

The company claims accumulating 70-80 per cent of the battery recycling market share in India.

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Lohum said it will be the exclusive extended producer responsibility partner handling end-of-life batteries for the majority of EV brands operating in Nepal. "This partnership is a game-changer. As we delve into the details of this innovative collaboration, it's evident that the synergies are set to reshape industries and provide the necessary impetus for clean energy transition in Nepal,” said Chetan Jain, senior Vice President at Lohum.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)