Siemens Limited, Switch Mobility Sign MoU to Provide Sustainable and Innovative E-Mobility Solutions in India
April 08, 2021 at 10:52 am EDT
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Siemens Limited has signed a Memorandum of Understanding (MOU) with Switch Mobility Automotive Limited to jointly address need of electric commercial vehicle customers and execute E-Mobility Projects in India. The MOU is aimed at delivering efficient, cost-effective and sustainable E-Mobility solutions to various commercial vehicle customers in India. Switch Mobility will bring its electric commercial vehicle industry experience while Siemens will provide the charging infrastructure technology and charging infrastructure management software solution to enhance the energy-efficient operations of the chargers. Siemens' charging infrastructure management software solution would enhance the energy-efficient operations of chargers. The two companies will collaborate 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. As part of the MOU, Siemens Financial Services (SFS), the financing arm of Siemens AG, will consider a minority investment in OHM Global Mobility Private Ltd., the eMaas platform company to be formed as a subsidiary of Switch Mobility Automotive Limited.
Siemens Limited is one of the Indian's leading manufacturers of electronic and electro-technical equipment. Net sales (not including sold divisions) break down by sector of activity as follows:
- energy (36.1%): integrated products and services for oil and gas production, electricity generation and transmission, etc.;
- electricity transmission and distribution (30.7%): power transmission and distribution systems, electrical installations, miniature circuit breakers, distribution boards, residual current circuit breakers, etc.;
- industry automation (23,8%): industrial automation systems, drive systems, etc. The group also provides engineering, procurement, installation and commissioning of turnkey projects products in the industrial and infrastructure sectors;
- mobility (8.7%): rail vehicles, rail automation systems, rail electrification systems, road traffic management solutions, etc.;
- other (0.7%).
India accounts for 82.2% of net sales.