Lithium

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 Lithium Urban Technologies Private Limited (Lithium or the “company”) provides business critical corporate employee transportation (CET) to blue chip companies in Information Technology (IT) and IT enabled services (ITES) sector by providing a fleet of electric vehicles (“EV”).  The company was incorporated in October 2014 and began operations in July 2015. The company currently has a fleet of about 350 electric vehicles and is planning to expand the fleet in line with market demand.The company currently provides CET in Bangalore to various IT clients and has recently started employee transportation services for an IT client in Noida, National Capital Region. CET is a business-critical service for the IT and ITES companies which provide 24x7 services across the globe and employ staff across various shifts who have to be transported from residence to the workplace and vice-versa. Lithium follows an asset model whereby it purchases its vehicles and provides transportation services to its clients through drivers.Lithium uses technology and EVs to provide one of the lowest per capita energy solutions for urban transportation and this is achieved through a technology enabled fleet whereby an algorithmic transport routing technique is used to optimize trip scheduling and routing. EVs are fitted with in car built telematics and cloud connectivity. Energy efficiency of the vehicle, the driving pattern of each driver, the charging requirement for each EV and the availability of each charger can be easily monitored 24x7 which helps to increase trip productivity.IFC is considering an equity/quasi equity investment of up to USD 8 million.