Lohum, ACKO Partner To Recycle, Reuse Batteries

Mobility Outlook Bureau
02 May 2023
02:21 PM
1 Min Read

The Battery Waste Management Rule of 2022 says that it is imperative to have end-to-end tracking of batteries to ensure safe disposal.


Lohum and ACKO have joined hands to recycle and reuse batteries covered under EV extended battery warranty insurance.

Lohum claims to be the world’s largest producer of sustainable battery raw materials, while ACKO is a general insurance company founded in 2016.

As per the companies, the partnership will help optimise battery insurance and financing costs for the customers, leading towards making “EVs more affordable” and “reducing the insurance cost”.

A statement from Lohum noted that the move will hence pave the way for the company to partner with OEMs in the future to launch battery buy-back products for customers and improve the overall vehicle resale value. 

The ‘Future Is Electric’ report by ACKO had earlier highlighted that 60% of respondents think the ecosystem needs to be better equipped to support EVs. One of the most significant barriers to EV ownership is the cost of battery replacement, as the battery contributes to a substantial part of the cost of an EV. 

Expressing his delight, Rajat Verma, Founder & CEO, Lohum, said the partnership will weave sustainability into India’s first EV battery performance warranty insurance. “This partnership aligns with our vision of lowering the carbon emissions of EV batteries and building customer-centric solutions across the battery materials supply chain,” Verma said.

Animesh Das, Chief Underwriting Officer, ACKO said the Battery Waste Management Rule of 2022 makes it imperative to have end-to-end tracking of batteries to ensure safe disposal. “Our strategic partnership with Lohum will help OEMs comply with the necessary EV-specific rules, which will act as a catalyst for achieving network effects and efficiency in the Indian circular economy and act as a stellar nursery for India's EV ecosystem,” said Das.

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