Eastman Auto signs ₹50 cr battery supply deal with Vande Bharat e-vehicles
Eastman Auto & Power Ltd
(EAPL) has entered into an agreement with
Vande Bharat e-vehicles
(Sahanianand E-Vehicles Pvt Ltd) to supply lithium-ion batteries worth ₹50 crore annually. The batteries will be used in electric three-wheelers manufactured by Vande Bharat.
The two companies signed a Memorandum of Understanding (MoU) to collaborate on deploying lithium-ion battery technology, with a focus on supporting the growth of electric three-wheelers used by commercial drivers and fleet operators across India.
Eastman
, a supplier of energy storage solutions, aims to expand its presence in the electric three-wheeler segment through the partnership. The agreement is also expected to support battery leasing models, a growing trend aimed at reducing upfront costs for EV users.
Focus on adoption and infrastructure
Shekhar Singal, Managing Director of Eastman Auto & Power Ltd, said, 'This partnership marks a significant milestone for Eastman as we join forces with Vande Bharat E-Vehicles to accelerate the growth of electric mobility in India. Our cutting-edge lithium-ion battery technology, combined with their large fleet of
E-Rickshaws
, will play a pivotal role in making sustainable transportation a reality for millions.'
Sumit Anand, Director, Vande Bharat E-Vehicles, said, 'We are thrilled to partner with Eastman in this transformative collaboration. Our mission is to provide reliable, cost-effective, and sustainable mobility solutions. This MoU is a critical step forward as we work together to empower drivers, enable greener logistics, and bring India closer to its net-zero goals.'
The collaboration is positioned to support India's broader electric mobility goals and clean energy initiatives, with both firms stating a commitment to scalable and environmentally responsible transport solutions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
2 hours ago
- Time of India
Mizoram starts to corporatise power & electricity dept
Aizawl: In a step towards energy sector reform, the Mizoram govt has initiated the corporatisation of the power & electricity (P&E) department, planning to restructure it into three separate entities — generation, transmission, and distribution. At a high-level meeting on June 12, chaired by power minister F Rodingliana, senior officials and engineers discussed the roadmap, in line with guidelines issued by the Union ministry of power. Speaking at the meeting, minister Rodingliana said corporatisation is a key priority for the govt to enhance administration, improve efficiency, and strengthen service delivery. He urged department officials to offer full cooperation and commitment to the reform process. Under the proposed plan, the P&E department will undergo unbundling, creating three strategic business units (SBUs) — each focusing on generation, transmission, and distribution. These units will have functional autonomy, managing their own assets and responsibilities. The restructuring will also explore outsourcing and franchising opportunities where applicable. The reform aligns with the Electricity Act, 2003, and the central govt's ongoing push for power sector modernisation. Officials expect the corporatised model to boost efficiency, enhance professionalism, and significantly reduce aggregate technical and commercial (AT&C) losses. Department engineers welcomed the move and expressed full support for the govt's vision. The meeting was attended by the P&E secretary, engineer-in-chief, and other senior officers. Aizawl: In a step towards energy sector reform, the Mizoram govt has initiated the corporatisation of the power & electricity (P&E) department, planning to restructure it into three separate entities — generation, transmission, and distribution. At a high-level meeting on June 12, chaired by power minister F Rodingliana, senior officials and engineers discussed the roadmap, in line with guidelines issued by the Union ministry of power. Speaking at the meeting, minister Rodingliana said corporatisation is a key priority for the govt to enhance administration, improve efficiency, and strengthen service delivery. He urged department officials to offer full cooperation and commitment to the reform process. Under the proposed plan, the P&E department will undergo unbundling, creating three strategic business units (SBUs) — each focusing on generation, transmission, and distribution. These units will have functional autonomy, managing their own assets and responsibilities. The restructuring will also explore outsourcing and franchising opportunities where applicable. The reform aligns with the Electricity Act, 2003, and the central govt's ongoing push for power sector modernisation. Officials expect the corporatised model to boost efficiency, enhance professionalism, and significantly reduce aggregate technical and commercial (AT&C) losses. Department engineers welcomed the move and expressed full support for the govt's vision. The meeting was attended by the P&E secretary, engineer-in-chief, and other senior officers. Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
Business Standard
11 hours ago
- Business Standard
RBI introduces Separate Trading of Registered Interest and Principal of Securities in State Government Securities
Reserve Bank of India (RBI) has announced that it has been decided to introduce Separate Trading of Registered Interest and Principal of Securities (STRIPS) in State Government Securities (SGS). This will be in addition to stripping/reconstitution already permitted since April 1, 2010 in eligible Central Government dated securities. The related notification dated May 29, 2025, published in the Official Gazette, is enclosed. All fixed coupon securities issued by State Governments/Union Territories having a residual maturity of up to 14 years and minimum outstanding of ₹1,000 crore as on the day of stripping, provided that such securities are reckoned as eligible investment for the purpose of meeting Statutory Liquidity Ratio (SLR) requirements and are transferable. Market Participants having an SGL account with the Reserve Bank can place requests directly in Reserve Bank of India Core Banking Solution (e-Kuber system) for stripping / reconstitution. Request for stripping / reconstitution by Gilt Account Holders shall be placed with their respective custodians maintaining the CSGL account with the Reserve Bank and the custodians, in turn, will place the request on behalf of their constituents in e-Kuber. ISIN and nomenclature for STRIPS in SGS, will be similar to STRIPS in Central Government dated securities.
Hans India
12 hours ago
- Hans India
Property owners upset over new BBMP E-Khata move
Bengaluru: The BBMP has issued an order that e-Khata will be mandatory for building construction in Bengaluru from now on. BBMP Chief Commissioner Maheshwar Rao has issued an order that e-Khata will be mandatory for obtaining building plans from July 1. The Corporation, which had already given a shock by disconnecting electricity connections to unauthorised buildings as per the Supreme Court order, has now given another shock by making e-Khata mandatory for new building construction. Online application submission and distribution arrangements have been made for building plan approval within the BBMP area. In addition, e-Khata is being issued for properties online. Now, both the software are being integrated. Therefore, those applying for building plan approval must first obtain an e-Khata. It has been made mandatory for those applying for plan approval to enter the e-Khata or EPID number in the software and submit the e-Khata. Meanwhile, only 5 lakh e-Khatas have been distributed so far, and lakhs of owners still need to obtain e-Khata. Meanwhile, property owners are expressing anger over this order of BBMP. 5 lakh e-Khatas have been distributed so far in the BBMP area. Now more than 25 lakh draft e-Khatas are available online. About 3,000 people are doing this process every day. However, the order making e-Khata mandatory from July 1 has caused hardship to property owners. Currently, it remains to be seen whether the corporation, which has issued a sudden order for e-Khata to be mandatory, will postpone the deadline.
