Chennai, Jan 17 (IANS): Commercial vehicles major Ashok Leyland Ltd on Wednesday announced it has signed a Letter of Intent (LoI) with Phinergy of Israel to secure long-term arrangements for its electric vehicle plans.

In a statement here, Ashok Leyland said: "With the intention of providing varying Energy Management solutions to the customers, Ashok Leyland and Phinergy will work towards the adaptation of unique, competitive and sustainable solutions for high-energy applications in the commercial vehicles space."

According to the statement, Phinergy has developed cutting edge technology solutions for the use of Aluminium Air Batteries for electric vehicles and other applications.

With Ashok Leyland, Phinergy will be tailoring its unique technology to meet the demanding high-energy requirements of commercial vehicles in the Indian market, the statement said.

"Over the next few months, we will develop the first few prototypes and trial pilots on different platforms in order to better tune Phinergy's offering for various CV (commercial vehicles) applications. Our approach to electric vehicle commercial vehicles will continue to be such that we move people and goods rather than batteries, with optimal use of battery capacities," S.A. Sundaresan, Head of eMobility Tech, Ashok Leyland, was quoted as saying.