8MAY, 2025JBM EV & HITACHI ZEROCARBON PARTNERS TO BOOST BATTERY TECH IN ELECTRIC BUSESINDIAN OIL SECURES FIVE-YEAR LNG DEAL WITH TRAFIGURATOP STORIES8MAY, 2025Indian Oil Corporation (IOC), the country's biggest oil refiner, has struck a five-year deal with Trafigura, a major global commodity trader, to import liquefied natural gas (LNG), according to three industry insiders. This agreement, with prices tied to the U.S. Henry Hub benchmark, is a big step toward ensuring India has enough energy to meet its growing needs.Starting in 2025, Trafigura will ship three to four LNG cargoes to IOC, then bump that up to six cargoes a year from 2026 onward. The deal's pricing set at 115% of Henry Hub plus a premium in the low $5s per million British thermal units, should help IOC keep costs in check. Neither IOC nor Trafigura had immediate comments on the partnership.India ranks as the world's fourth-biggest LNG buyer, hauling in 26.58 million metric tons last year, with the U.S. as its second-largest supplier. This deal is part of India's plan to mix up its energy sources and ease its trade imbalance with the U.S. Some LNG originally bound for China might now head India's way, a sign of shifting global trade winds.The country's gas use shot up 11% in 2024, driven by factories, refineries, and power plants. With homegrown gas production dropping, imports are a lifeline. The government is even mulling over cutting taxes on U.S. LNG to bring in more and trim the trade surplus with the U.S.Other Indian companies are jumping on the bandwagon. GAIL India recently bid for a slice of a U.S. LNG project while locking in a 15-year supply deal, showing a trend toward long-term energy partnerships. Prime Minister Narendra Modi also promised to ramp up U.S. energy imports by 10 billion USD, putting deals like this in the spotlight. With India's economy booming and hungry for energy, this Trafigura deal helps IOC stay ready for what's ahead. JBM Electric Vehicles company formed an agreement with Hitachi ZeroCarbon to install sophisticated battery management systems throughout their electric bus operation. The partnership represents a major step forward for India's e-mobility sector that supports the national strategy to use environment-friendly public transit solutions.JBM's electric buses will integrate Hitachi ZeroCarbon's Battery Manager system under the terms of this collaboration. The system will deliver insights into charging patterns, route optimization, and asset usage--critical components in improving electric vehicle efficiency and reliability. The solution also offers advanced analytics to extend battery life and maximize residual value.A division of JBM Auto Ltd, JBM EV runs the largest integrated electric bus manufacturing plant globally outside China, situated in Delhi-NCR, with an annual capacity of 20,000 buses. The company provides an extensive range of e-buses for urban, intercity, luxury, school, employee, and specialized transportation."This collaboration...will ensure critical parameters for enhancing our battery performance proactively for each customer under different climatic conditions and leading to highest residual value of the batteries. It will enable us to enhance the total cost of ownership (TCO) for the public transport operators and fleet owners for multiple applications across the world," said Nishant Arya, Vice Chairman and Managing Director, JBM Auto Ltd.Hitachi executives emphasized India's diverse weather and terrain as a perfect testing ground for electric mobility innovation, further strengthening the global relevance of this collaboration.
< Page 7 | Page 9 >