MG Motor India and Epsilon Group have signed a partnership agreement for EV charging solutions and battery recycling, according to a statement.
The carmaker has inked a memorandum of understanding (MoU) with Power EV for charging solutions and LICO for battery recycling and second life expertise, according to the statement. Power EV and LICO are both subsidiaries of Epsilon Group.
Under the deal, Power EV will provide custom charging technology to develop AC and DC charging solutions for the carmaker's electric vehicles.
The automaker plans to have 1,000 charging points in 1,000 days inside residential communities and apartments across the country, under its MG charge initiative. "Power EV will bolster the existing public charging network by expanding the availability of AC chargers and introducing high-capacity DC charging options," MG Motor India said in a statement.
In addition, LICO will provide comprehensive battery recycling and certification services to MG Motor, the statement added.
Commenting on the deal, MG Motor India's chief growth officer Gaurav Gupta said, "Our collaboration with the Epsilon Group signifies a strategic alliance aimed at realising this vision through an efficient charging infrastructure which aids and complements a circular economy by way of second-life and end-of-life solutions for batteries."
With inputs from PTI
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
