Log9 Mobility, a wholly owned subsidiary of advanced battery technology start-up Log9 Materials, has secured a Rs 10 crore debt financing facility from sustainable energy finance firm cKers.
cKers, which focuses on financing sustainability and clean energy, has provided an initial facility of Rs 10 crore to Log9 Mobility which is being used to accelerate the deployment of Log9 Material’s fast-charging battery-integrated electric vehicles in part of a mobility-as-a-service (MaaS) model, according to a company statement.
“We are delighted to partner with cKers Finance to enable the deployment of Log9 battery vehicles in India,” said Akshay Singhal, Founder and CEO of Log9,
Log9 is continuously working on integrating its battery technology with EV OEMs for different form factors, including e-2/3/4-wheelers and e-buses, he said.
Deepak Gupta, Business Development Manager at cKers, said: “cKers has been investing in electric vehicles for over two years now and has already committed lines enabling the deployment of over 3,000 e2W and 1,000 electric three-wheel chargers, giving it a head start in funding. clean mobility.
The company has launched its Driver-cum-owner (DCO) program, which will create accessibility to green finance for drivers looking to own and transition from traditional fossil fuel-powered ICE vehicles to electric vehicles, a- he added.
Log9 Mobility is deploying more than 1,000 Omega Seiki Range+ RapidEV three-wheelers under the MaaS model with third-party logistics service providers (3PLs), the statement said, adding that the model allows customers to on-board vehicles at no cost. initial investment or need to own the vehicle.