Honda Power Pack Energy India Private Limited and Hindustan Petroleum Corporation Limited (HPCL) have signed a memorandum of understanding (MoU) and commercial agreement to collaborate in the field of electric mobility. Moreover, they will be providing battery-sharing services at HPCL’s retail outlets in major cities across India. While the former is a new subsidiary of Honda Motor Company for battery sharing service, the latter is a Maharatna Oil & Gas Public Sector undertaking (PSU).
In October 2021, Honda Motor Company Japan established its new subsidiary, Honda Power Pack Energy India, and announced its plan to begin battery sharing service in India starting with electric three-wheelers. This enables electric rickshaw drivers to stop by at the nearest battery swapping stations in select cities and swap discharged batteries with fully charged ones. The use of this service will significantly reduce the initial cost to purchase EVs as well as lower concerns about running out of batteries.
Honda plans to start its Battery as a Service (BaaS) business on a commercial basis from the city of Bengaluru in the first half of 2022. The company aims to set up a strong network of battery swap stations at strategic locations, including HPCL’s retail outlets. The service will be expanded to other major cities in a phased manner. Honda says that initially, the focus will be on the three-wheeler segment, but eventually, they will expand to two-wheelers as well.
Commenting on the announcement of this strategic partnership, Kiyoshi Ito, President & CMD, Honda Power Pack Energy India, said that he is looking forward to a long-lasting partnership and friendship between Honda and HPCL to bring the reliable & customer-centric battery sharing service in India and to ensure a greener future. Referring to the association of Honda with HPCL, he added that for Honda, it was a case of meeting the right partner at the right time.
Rajnish Mehta, Executive Director, Corporate Strategy Planning & Business Development, HPCL, added that HPCL is already committed to becoming a net-zero emission company by 2040 and the partnerships with global players like Honda will be instrumental in achieving this target. He also asserted that a strong collaboration between HPCL and Honda would definitely pave the way for both companies in expediting the energy transition process.
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