Lithium (IFC-40171)

Regions
  • South Asia
Where the impacts of the investment may be experienced.
Countries
  • India
Where the impacts of the investment may be experienced.
Specific Location
Bengaluru
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 7, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
LITHIUM URBAN TECHNOLOGIES PVT LTD
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 7.83 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 29, 2019

Disclosed by Bank Apr 27, 2018


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Project Description

The project consists of an IFC equity investment of U$7.83 million in Lithium Urban Technologies Private Limited in India. Lithium Urban Technologies Private Limited provides corporate employee transportation service in Bengaluru and Delhi NCR through Electric Vehicles, DC-Fast charging infrastructure and integrated fleet management technology to other companies. 

The proposed objectives of the project are:

1. The Project aims to help in the avoidance of Greenhouse gas emissions by introducing more Electric Vehicles in urban transport and displacing fuel-based vehicles.

2. IFC anticipates that the Project will help create jobs for about 8,000-10,000 drivers over the next five years.

3. Beyond the Project, the expansion of Lithium will promote sustainability in urban transport by demonstrating the viability and feasibility of EVs in the market.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
  • LITHIUM URBAN TECHNOLOGIES PVT LTD -- Implementing Company
Contact Information

For inquiries about the project

Lithium Urban Technologies Private Limited 
Sanjay A. Krishnan 
Chief Executive Officer 
+91 9686204177 
sanjay@project-lithium.com 
158, 1st Floor, Seetharampalya, Hoodi, Bengaluru, Karnataka 560048 
NA 

For inquiries and comments about IFC

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

Local access for porject documentation

158, 1st Floor, Seetharampalya, Hoodi, Bengaluru, Karnataka 560048

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/