Lithium Urban Technologies has secured a strategic investment from JSW Green Mobility, marking a significant step in the company's expansion plans.
The Eversource Capital-backed mobility platform announced the deal on Thursday, positioning itself to achieve three-fold growth over the next two years.
The partnership with JSW Green Mobility, a subsidiary of the diversified industrial conglomerate JSW Group, underscores the increasing interest of major Indian industrial houses in the sustainable mobility value chain.
Lithium Urban, which operates in the battery swapping and electric vehicle infrastructure space, aims to leverage the investment to scale its operations and create jobs in the green technology sector.
This development comes as India's electric mobility ecosystem sees heightened activity, with both public and private entities seeking to capture market share in the rapidly growing segment.
The involvement of JSW Green Mobility suggests a broader trend of traditional industrial players diversifying into renewable energy and electric transport infrastructure.