JBM Group Signs 3 Yr MoU with CESL to Set up EV Charging Infrastructure Pan India

In a step towards boosting electric mobility (e-mobility) in the country, $2.2 bn JBM Group has signed a 3-year Memorandum of Understanding (MoU) with state-owned EESL’s wholly-owned subsidiary Convergence Energy Services Ltd (CESL).

Indian conglomerate JBM Group signed MoU through its renewable arm, JBM Renewables, for setting up an integrated ecosystem for charging of electric vehicles (EVs) across India.

Commenting on the partnership, Mahua Acharya, CEO & MD of Convergence Energy Services Ltd (CESL), said “increasing electric vehicles on Indian roads needs an ecosystem way of thinking and to that extent, I am so pleased to see JBM carry that vision. This MoU is an exciting development because it brings together like minded entities to work together entrepreneurially to help build this out. JBM is an industry stalwart, and we look forward to establishing a deep and lasting relationship.”

Per the scope of the MoU, the two organisations will jointly undertake setting up of public charging infrastructure pan India for EVs including investment, installation, commissioning, operation and maintenance.

Further, the MoU also includes optimizing current charging stations and exploring avenues for second use applications of EV batteries for storage and grid management purposes.

“The automotive industry is transforming radically with disruptive technologies taking the world’s mobility ecosystem towards self-sustainable products & solutions. As a group, we have seamlessly been able to synergise and align our various businesses to this ongoing transformation. Our eco-friendly electric buses, EV charging solutions, battery manufacturing capabilities and renewable energy offerings are manifestations of this change. It is a pleasure to partner with a forward-thinking organization like CESL to complement our skill sets and serve the country,” said Nishant Arya, Vice Chairman of JBM Group.

As a pilot project, both JBM and CESL will work towards creating an integrated EV ecosystem platform comprising of renewable energy, energy storage systems and EV charging solutions. For demand generation, CESL will explore business models and availability of potential customer segments.

Besides, the project will also include establishment of various aspects of an EV ecosystem in Goa, in line with Goa’s ambitions to go green. The association will explore the feasibility of integrating EV charging and electric buses for maximizing capacity utilization of chargers and making them a profitable business. The scope of collaboration also includes working together for charging stations on highways etc.