Siemens-Hinduja inks MoU to offer electric vehicles solutions

Siemens Limited and the Hinduja Group's Switch Mobility Automotive Limited have signed a Memorandum of Understanding (MoU) to work in the electric commercial vehicles segment. Siemens Financial Services (SFS), the financing arm of Siemens AG, would consider a minority investment in OHM Global Mobility Private Limited, another Hinduja group company. While Switch Mobility would bring in its electric commercial vehicles into India, Siemens would provide the charging infrastructure technology and charging infrastructure management software solution to enhance the energy-efficient operations of the chargers. It would also collaborate with Switch Mobility 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.

Dheeraj Hinduja, Chairman of Switch Mobility, said, "With our experience of more than 230 electric vehicles already in operation successfully in India and the UK, we see immense growth opportunities for Switch's expansion in India, Europe and many global markets."

Sunil Mathur, MD and Chief Executive Officer of Siemens Limited said, "Siemens is a global leader in e-mobility solutions for commercial vehicles. We have been implementing projects for electric commercial vehicles across the globe. Together with Switch Mobility, we intend to implement high-quality techno-commercial solutions to address the needs of the growing e-mobility market in India." Switch Mobility Automotive and OHM Global Mobility are two Indian subsidiaries of commercial vehicles major Ashok Leyland Limited.