Eastman signs ₹50 cr battery pact with Vande Bharat to power electric rickshaws
New Delhi:
Eastman Auto & Power Ltd
. (EAPL), a leading player in India's energy storage sector, has signed a Memorandum of Understanding (MoU) with
Vande Bharat E-Vehicles
(Sahanianand E-Vehicles Pvt. Ltd.) to supply
lithium-ion batteries
worth ₹50 crore annually for electric three-wheelers.
Under the partnership, Eastman will provide batteries for Vande Bharat's e-rickshaws, aimed at promoting cost-effective and accessible
electric mobility
solutions for commercial drivers and fleet operators. The collaboration targets the growing electric vehicle (EV) segment in India and seeks to contribute towards sustainable transportation.
'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,' said Shekhar Singal, Managing Director, Eastman Auto & Power Ltd.
The agreement is expected to strengthen Eastman's market position in the electric three-wheeler battery segment. The company is already a leader in energy storage and e-rickshaw battery markets.
Vande Bharat E-Vehicles, which focuses on electric three-wheeler deployment, aims to support the adoption of EVs in commercial logistics and passenger transport.
'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,' said Sumit Anand, Director, Vande Bharat E-Vehicles.
Both companies said the partnership aligns with India's broader electric mobility roadmap and will promote scalable, eco-friendly transportation solutions that support employment and reduce environmental impact.
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