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Siemens Limited has signed a Memorandum of Understanding (MoU) with Switch Mobility Automotive Limited to jointly address the needs of electric commercial vehicle customers and execute innovative E-Mobility projects in India. Switch Mobility will bring its electric commercial vehicle industry experience, and Siemens will provide the charging infrastructure technology and software solution to enhance the energy-efficient operations of the chargers. The two companies will collaborate on new business models, such as eMobility-as-a-Service (eMaas), integrated depot energy management, Vehicle-to-Grid (V2G), as well as on-site/off-site renewable energy sources by leveraging batteries from commercial vehicles.
Switch Mobility sees immense growth opportunities across global markets. This collaboration with Siemens will make electric products more affordable and augurs well for the future of commercial E-mobility in India. Siemens has been implementing projects for electric commercial vehicles across the globe. Together with Switch Mobility, they intend to implement high-quality techno-commercial solutions to address the needs of the growing e-mobility market in India.
As part of the MOU, Siemens Financial Services (SFS), the financing arm of Siemens AG, will consider a minority investment in OHM Global Mobility Private Ltd., the eMaas platform company to be formed as a subsidiary of Switch Mobility Automotive Limited.