Neuron Energy and Urja Mobility partner for battery leasing solutions

Neuron Energy has partnered with Mufin Green Finance-backed Urja Mobility for battery leasing solutions for commercial electric vehicles. Urja will purchase the battery packs which will then be leased to 3Eco for their EV initiative. 

3Eco specialises in hyper-local connectivity solutions tailored for efficient last-mile delivery services to various e-commerce companies. 

Beginning from March 2024 until the end of the following year, Neuron Energy has committed to providing 2400 battery packs for electric vehicles in the L5 category, and 10,000 battery packs for electric vehicles in the L3 category.

This partnership is expected to generate revenue of around Rs 100 crore for Neuron Energy, across both L3 and L5 categories. 

Neuron Energy has fostered a longstanding partnership with 3EV for the past 30 months, supplying over a thousand battery packs currently operational in their fleet across multiple cities. 3Eco operates its captive fleet in major metropolitan areas such as Chennai, Bangalore, Hyderabad, Mumbai, and Coimbatore.

Pratik Kamdar, CEO and Co-founder, Neuron Energy said, "This empowerment allows 3EV and 3Eco to concentrate solely on production and last-mile delivery, thereby fostering substantial volume growth." 

Pankaj Chopra, Founder, Urja Mobility said, "This collaboration enables us to transform Capex into Smart Opex, offering flexible lease terms ranging from 12 to 36 months. We have witnessed 3Eco Systems' transformation from a last-mile operator to a Logistics Player. Their emphasis on local thinking and operational efficiency is particularly impressive, and we look forward to collaborating with them and Neuron Energy to drive sustainable solutions in the EV industry.”

The leasing of battery packs for commercial EVs represents a crucial step in strengthening the Indian EV ecosystem and enabling efficient last-mile delivery.