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Neuron Energy, Urja Mobility to roll out leasing model for three-wheelers

Monday, 15 Apr 2024
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Neuron Energy, a lithium-ion battery maker, has joined hands with Urja Mobility to roll out a leasing model in Kolkata and surrounding areas in West Bengal. The e-rickshaws in the city are set to be powered by GPS-enabled lithium-ion batteries in the city.

Under the strategic alliance, Urja Mobility will procure batteries directly from Neuron Energy, and will lease them to fleet companies and individual EV owners through a network of authorised distributors. It has also set its sights on expanding to other markets soon. Together, it will target a fleet of 50 lakh e-rickshaws across the country, with a high number in the state, aiming to replace lead-acid batteries with modern, and environmentally friendly alternatives.

A lithium-ion battery is also cost-effective in the long run, and batteries are equipped with GPS tracking and provision to deactivate the battery pack remotely. Its asset-light model promises flexibility and accessibility for electric vehicle owners. With a monthly lease rental of just Rs 4,500 and a three-year contract, it will provide for green transportation for accessibility. 

West Bengal is considered India's e-three-wheeler manufacturing hub with around 15 percent share and the state accounts for over 12 percent of all EVs produced. Neuron Energy's ability to offer customised solutions with a rapid turnaround time.

The price of lithium-ion batteries has dropped from a peak of USD 140 per kWh to USD 80-85, with price stability expected in the near future.

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