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Energy In Motion (EIM), an associate company of Ravindra Energy, has executed a Letter of Agreement (LOA) with Contemporary Amperex Technology Co., (CATL) to establish a supply partnership for the supply of its Lithium Iron Phosphate (LFP) cells and battery pack kits to EIM in India.

Under the agreement, CATL will supply 0.5 GWh of its LFP cells consisting of the upgraded CB7T0 cell Model & L324D06 battery pack platform. This latest cell and pack model for heavy commercial vehicles has significantly higher cycle life and volumetric density compared to the previous cell model CB230 used by EIM. The packs will be configured into 400.6 kWh systems for integration into EIM's E-Tractor 4x2 Ashwa series.

EIM will be the launch customer for this new generation of CATL battery systems in India. These will be fitted into swappable battery boxes by EIM which are customized for India's high ambient temperature operating conditions.

EIM is building an electric heavy commercial vehicle ecosystem including megawatt-scale charging/swapping stations across the country. It's first electric heavy vehicle namely the Ashwa 55-ton e-tractor was launched on August 1st, 2025. EIM has already commissioned six heavy-duty swap stations in Delhi-NCR region & JNPA port area with a daily swap capacity of 840 battery swaps/day. EIM is targeting 40 operational heavy commercial vehicle swap cum charging stations by the end of March, 2027.

CATL, the world's largest battery manufacturer, held a 39.2% share of global power battery market in 2025. The company has a market capitalisation of approximately 280 billion USD.

Ravindra Energy has invested Rs 150 crore in its associate company, Energy In Motion (EIM) by way of subscription to 45,67,463 equity shares issued and allotted by EIM on rights issue basis , at an issue price of Rs. 328.41 per equity share.

Ravindra Energy will hold a meeting of the Board of Directors of the Company on 23 May 2026.

The board of Ravindra Energy at its meeting held on 16 May 2026 has approved rights issue of Rs 205 crore.