Silveline Power inks $135 mn deal for EVs

New Delhi: Electric motorcycle company Silveline Power on Wednesday said that it entered into a Technology License Agreement worth $135 million with SRAM & MRAM Group for Hydrogen fuel-based electric vehicles (EVs).

Through this collaboration, SRAM intends to scale up the manufacturing and commercialise it. This will be a step further in SRAM’s contribution to the ‘Green and Clean Energy’ and ‘Aatma Nirbhar Bharat Abhiyan’.

As major economies aim to meet global emission norms and adopt green energy, the government is committed to achieving Net Zero emissions by 2070. In this context, SRAM’s innovators have spent the past decade developing disruptive technologies and have now achieved success with hydrogen fuel cell technology.