IESA inks MoU with Korea's KOTRA to work on energy storage, e-mobility

IESA inks MoU with Korea's KOTRA to work on energy storage, e-mobility

Domestic industry body IESA and KOTRA of Korea have signed a memorandum of understanding (MoU) to jointly work in the field of energy storage and e-mobility. As part of the MoU, the two bodies will exchange knowledge and information, establish best practices, and create new business opportunities in the South Korean and Indian energy storage and e-mobility markets for their respective members.
In a statement on Thursday, the India Energy Storage Alliance (IESA) said the MoU was on signed on June 14.
The MoU will remain in effect for a period of three years from the date of signing, according to the statement.
''India's energy storage industry, which is the key means of renewable energy development and eco-friendliness, is expected to develop significantly, and with this opportunity, we will strive to expand exchanges between energy storage companies in Korea and India,'' said Donghyun Rhee, DG, KOTRA, Mumbai.
Reacting to the development, IESA President Rahul Walawalkar said Korea is a global leader in advanced energy storage research and manufacturing and India is emerging as one of the largest markets for advanced energy storage technologies.
''IESA has set a vision to make India a global hub for R&D, manufacturing, and adoption of advanced energy storage and e-mobility technologies. In this regard, MoU with KOTRA is an important milestone for exploring active technology collaborations and sharing of best practices amongst Korean and Indian companies,'' he said.
Korea Trade & Investment Promotion Agency (KOTRA) is the national trade and investment promotion agency of South Korea that facilitates international business cooperation of Korean companies.
IESA is a leading industry alliance focused on the development of advanced energy storage, green hydrogen, and e-mobility technologies in India.
Cron Job Starts