Siemens Limited signed a memorandum of understanding (MoU) with Switch Mobility Automative Limited to jointly address the needs of electric commercial vehicle customers and execute e-mobility projects in India.

A statement from Siemens said 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.

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 and off-site renewable energy sources by leveraging batteries from commercial vehicles, the statement said.

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.