Sustainable mobility is increasingly at the center of Jaguar Land Rover's projects, as can be seen from the fact that InMotion Ventures, the venture capital arm of JLR, has announced an investment of 1.2 million dollars in Energy Source, the Brazilian startup deals with solutions for the repair, reuse and recycling of lithium batteries.
This is InMotion Ventures' first investment in Brazil, and represents a step to broaden JLR's focus beyond the UK and US.
Specifically, the capital will be used to accelerate Energy Source's growth and expand its operations, so it can serve more customers from its São João da Boa Vista facility in the future.
Furthermore, Energy Source boasts a unique offering that covers the entire range of post-production services, and is addressing one of the most significant challenges for mobility with battery-powered cars, namely the management of the latter at the end of its life and the optimization of its life cycle.
With the local repair offer, it is able to extend the life of existing batteries, eliminating the need to replace a component that can be worth up to 70% of the selling price of electric vehicles;
and the company's second-life battery storage systems allow it to explore new solutions, such as renewable, battery-powered charging stations at retailers.
While battery recycling operations allow manufacturers to recover high-value materials from spent cells, reducing the need for new mining operations.
“Repairing, reusing and recycling lithium batteries is central to JLR's Reimagine strategy,” said Igor Murakami, new services and open innovation director at JLR, “which is why this first investment in Brazil is important to us. The equity stake in Energy Source puts JLR on the path to developing an end-to-end EV ecosystem."
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