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    Log9 Mobility avails INR 10 cr debt financing facility to accelerate Development of EVs

    Log9 Mobility, a wholly-owned subsidiary of advanced battery-tech startup Log9 Materials, today announced that it has availed INR 10 crore debt-financing facility from sustainable energy financing firm cKers to accelerate the deployment of EVs integrated with Log9 Material’s fast-charging batteries under a Mobility as a Service (MaaS) model, a company statement said.

    Log9 will be developing advanced cell chemistries which can be used in battery storage technologies across mobility and stationary storage solutions added to the company. These batteries will be optimised for Indian conditions and offer 9x power, 9x cycle life and 9x performance – being charged from 0-100% in 12 minutes for a 2-wheeler and 35 minutes for a 3-wheeler respectively.

    Akshay Singhal, Founder & CEO, of Log9, said, “Log9 is continuously working on integrating its battery technology with Electric Vehicle OEMs for different form factors including e2-wheelers, e3-wheelers, e4-wheelers and e-buses.”

    Speaking about the partnership, Deepak Gupta, Business Development Head, cKers said “cKers has been investing in EVs for over 2 years now and has already committed lines enabling the deployment of over 3,000 e2Ws and 1,000 electric e3W-loaders, giving it a head start in financing clean mobility.”

    “We have launched our Driver-cum-owner (DCO) program which will create accessibility of green finance for drivers looking to become owners and shift from traditional fossil fuel-based ICE vehicles to EVs,” he added.

    Log9 Mobility is deploying over 1,000 Omega Seiki’s Range+ RapidEV three-wheelers under the MaaS model with third-party logistics (3PL) service providers, stated a company release.

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