Magazine : 
Silveline Power and SRAM & MRAM Group Sign $135 Million EV Technology Deal
Silveline Power, an electric motorcycle company, has announced a Technology License Agreement valued at $135 million with SRAM & MRAM Group for hydrogen fuel-based electric vehicles (EVs).
Under this agreement, SRAM & MRAM Group aims to scale up manufacturing and commercialize hydrogen fuel cell technology, furthering its commitment to 'Green and Clean Energy' and 'Aatma Nirbhar Bharat Abhiyan'.
Over the past decade, SRAM & MRAM Group has dedicated efforts to developing disruptive technologies, achieving breakthroughs in hydrogen fuel cell technology. The company is now advancing its hydrogen cell storage design to integrate with EV components for two- and four-wheeler vehicles.
"The Group has already developed a motor design and manufacturing system ready to be adopted for any existing design", SRAM & MRAM Group stated, emphasizing the cost-effectiveness and safety benefits of aluminium-encased hydrogen cells over traditional lithium-ion batteries.
Lithium-ion batteries, currently integral to EVs, are costly and pose safety risks, while hydrogen cells housed in aluminium offer a safer and more affordable alternative. SRAM & MRAM Group plans to leverage aluminium packaging to significantly reduce EV production costs.
With this technological advancement, SRAM & MRAM Group aims to produce cost-effective hydrogen fuel-based EVs in India and Malaysia. The initiative aligns with global efforts to meet stringent emission norms and transition to sustainable energy solutions.
This partnership underscores Silveline Power's strategic move towards promoting environmentally friendly transportation solutions in alignment with global sustainability goals.
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