Mufin Green Finance, a leading Non-Banking Financial Company (NBFC) specializing in green financing, has made a strategic move by acquiring a significant 20 percent stake in UrjaMobility. This partnership is poised to be a game-changer in the electric mobility sector, focusing on the integration of advanced Li-Ion batteries designed to bring innovative solutions to the forefront of the industry.

The Technological Edge: Advanced Li-Ion Batteries

At the heart of this collaboration lies the integration of advanced Li-Ion batteries, offering fintech platforms unprecedented control over their operations. These batteries leverage cutting-edge technologies such as Internet of Things (IoT) connectivity, thermal analytics, and remote immobilization capabilities. Notably, they utilize Lithium Iron Phosphate (LFP) technology, ensuring a durable product life cycle exceeding four years and delivering over 2000 charging cycles.

Addressing the Replacement Challenge in E-Rickshaws

With nearly three million e-rickshaws currently in operation, a significant portion—approximately 1 to 1.5 million units—require battery replacements annually, assuming Lead Acid Batteries with a lifespan of 15-20 months. The conventional choice for replacements has been Lead-Acid batteries due to their lower cost compared to Lithium-ion batteries. Pankaj Chopra, Founder of UrjaMobility, emphasized the impact of this collaboration, stating, “With plans to immediately deploy 10,000 batteries and impact the lives of drivers by offering easy monthly leases, we are delighted to strategically partner with Mufin Green Finance.”

Strategic Vision for the EV Ecosystem

Kapil Garg, Managing Director at Mufin Green Finance, shared insights into the strategic vision behind this partnership. Anticipating a significant shift that will fortify the Electric Vehicle (EV) ecosystem, he expressed excitement about partnering with UrjaMobility. The vision extends to foreseeing that, by 2030, the commercial use of electric two-wheelers (E2W) will reach 100 percent, totaling between 10-12 million units, each with a product life cycle of three years.

Tapping into the Last Mile Delivery Market

Garg also highlighted the current size and potential growth of the Last Mile Delivery (gig workers) market, comprising five million people operating either on E2W or Internal Combustion Engine (ICE) 2W vehicles. With the surge in demand for delivery services, this market is expected to grow at an impressive 25 percent Compound Annual Growth Rate (CAGR).

Conclusion: Transformative Collaboration for Electric Mobility

The partnership between Mufin Green Finance and UrjaMobility marks a transformative collaboration that goes beyond financial investment. By combining financial expertise with cutting-edge battery technology, the duo is set to revolutionize the electric mobility sector, addressing challenges and contributing to the sustainable growth of the EV ecosystem. As the demand for green and efficient solutions continues to rise, this collaboration is well-positioned to play a pivotal role in shaping the future of electric mobility in India and beyond.

By Admin

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