JSW Green Mobility acquires Lithium Urban stake
Founded in 2015, the Indian electric fleet operator Lithium Urban offers end-to-end EV mobility solutions for enterprise customers. It currently provides over 3000 EVs and 1300 charging points for more than 100 clients across its managed fleets.
With this investment from JSW, Lithium Urban now hopes to triple the size of its business while creating between 12,000 and 15,000 jobs as it expands into new markets – although these ‘new markets’ are yet to be specified. The company said it plans to deepen its technology capabilities alongside growing its physical fleet and charging network.
Financial terms of the transaction have not been disclosed, but it marks broadening ambitions for JSW Green Mobility in India’s electromobility ecosystem – giving the vehicle manufacturer a foothold in the country’s enterprise fleet services, charging infrastructure and mobility software.
FortuneIndia cites Parth Jindal, Director of JSW Group, as saying “India’s mobility landscape is undergoing a structural transformation driven by rapid urbanisation, electrification and the growing scale of digital commerce”. According to the outlet, Jindal said: “We believe the future will be shaped by integrated, technology-led mobility platforms that can deliver reliability, operational efficiency and scale. Lithium has built a differentiated business with strong execution capabilities and high-quality infrastructure. We are excited to partner with Lithium Urban as it accelerates growth and helps shape the future of clean mobility in India.”
Don Thomas, CEO of Lithium Urban Technologies, added: “The opportunity ahead is not simply to replace vehicles, but to build the infrastructure, operating systems and technology capabilities required to make electrification work at scale. Their partnership will help us accelerate electric fleet deployment, expand charging infrastructure and continue strengthening the technology capabilities that underpin our platform.”
0 Comments