Silveline Power, based in New Delhi, has recently announced a substantial partnership with SRAM & MRAM Group in a licensing agreement worth USD 135 million for hydrogen fuel-based electric vehicle technology. The agreement focuses on developing cutting-edge technologies for the electric vehicle ecosystem and its ancillary supply chain to facilitate the comprehensive manufacturing of EVs. Over a period of five years, the cost of the agreement will be amortized. SRAM & MRAM Group, through this collaboration, aims to ramp up manufacturing operations and introduce the technology to the commercial market. The agreement marks a significant milestone in the advancement of hydrogen fuel-based technology within the Indian electric vehicle sector. By enabling the complete supply chain necessary for EV manufacturing, this partnership is expected to drive innovation and growth in the industry. Silveline Power, co-founded by Nilesh Dabre and Satya Panigrahi, expressed enthusiasm about the collaboration and the potential it holds for the future of sustainable transportation. With a positive sentiment towards hydrogen fuel-based technology, the agreement underscores the commitment of both companies towards fostering a more eco-friendly and efficient transportation landscape. This development sets a precedent for further advancements in the integration of hydrogen fuel cells in the electric vehicle domain, offering promising prospects for a greener future.