Battery startup Log9 Materials signs MoU with EV maker Quantum Energy

The Indian arm of Suzuki Motor Corporation of Japan, logged a 23.3 per cent year-on-year growth in two-wheeler sales at 88,731 units April 2023

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Battery-tech startup Log9 Materials on Tuesday announced signing a Memorandum of Understanding (MOU), with Hyderabad-headquartered electric vehicle maker Quantum Energy for a long-term strategic partnership in the EV space.
As a part of this collaboration, the two companies also jointly unveiled a two-wheeler commercial electric vehicle (CEV)-- 'Bzinesslite-- powered by Log9's RapidX 2000 batteries, enabling it to go zero to zip within 12 minutes, Log9 Materials said in a release.
Going forward, both Log9 and Quantum Energy will be working hand-in-hand to deploy 10,000 InstaCharged two-wheelers for a wide variety of use-cases, including e-commerce, food delivery, courier services, among others, in the domestic last-mile logistics sector, pan-India by March 2024, it said.
The joint initiative is going to be kicked off soon by deploying 200 Bzinesslite e-2Ws in Hyderabad through Whizzy Logistics a logistics fleet service provider enabling hyperlocal deliveries, it stated.
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Suzuki Motorcycle signs pact with Bajaj Finance

* Suzuki Motorcycle India said on Tuesday it has signed an initial pact with Bajaj Finance to provide retail financing to its customers purchasing Suzuki two-wheeler in the country.
The partnership will enable customers to avail round-the-clock, easy, and hassle-free retail financing options on the purchase of Suzuki two-wheeler, Suzuki Motorcycle India Pvt Ltd (SMIPL) said in a statement.

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The Memorandum of Understanding (MoU) signed with Bajaj Finance Ltd will also provide additional benefits, such as vehicle loan sanction within minutes and hassle-free documentation, to customers, SMIPL said.
Considering the company's continuous growth in the Indian market, it becomes imperative for it to associate with financiers who can facilitate ease of purchasing Suzuki two-wheelers, said Kenichi Umeda, Managing Director, Suzuki Motorcycle India Pvt. Ltd.
The Indian arm of Suzuki Motor Corporation of Japan, logged a 23.3 per cent year-on-year growth in two-wheeler sales at 88,731 units April 2023.
As the preferred financier tie-up with Suzuki Motorcycle India, Bajaj Finance has the opportunity to reach out to a larger number of two-wheeler buyers. With our customer franchise of 69 million, the partnership with Suzuki Motorcycle enables us to deliver a wider suite of financial solutions to our customers, said Amit Raghuvanshi, President for personal loans and sales at Finance at Bajaj Finance Ltd.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: May 30 2023 | 7:39 PM IST

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