Ashok Ley­land signs LoI with Phin­ergy for EV so­lu­tions

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Ashok Ley­land, flag­ship of the Hin­duja Group, has signed a Let­ter of In­tent (LoI) with Phin­ergy of Is­rael to se­cure long-term ar­range­ments for its EV com­mer­cial ve­hi­cles. With the in­ten­tion of pro­vid­ing vary­ing en­ergy man­age­ment so­lu­tions to the cus­tomers, both the com­pa­nies 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.

“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”, Karthick Ath­manathan, Head - EV and eMo­bil­ity So­lu­tions, Ashok Ley­land, said.

“Over the next few months, we will de­velop the first few pro­to­types and trial pi­lots on dif­fer­ent plat­forms 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,” S A Sun­dare­san, Head of eMo­bil­ity Tech, Ashok Ley­land, said. “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,” Aviv Tzi­don, CEO of Phin­ergy, said.

“Given the Grid and Power po­si­tion in most mar­kets, this will be the first time EV Com­mer­cial Ve­hi­cles will have a Gridin­de­pen­dent so­lu­tion that is cost-ef­fec­tive as well as emis­sion-free,” David Mayer, VP of Busi­ness De­vel­op­ment for Phin­ergy, said.

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