Triton issues Rs 8,060 crore LoI to Bharat Electronics for purchase of battery packs for e-trucks

20 Oct 2022 , 09:19 AM

Triton Electric Vehicle India Pvt Ltd, a part of Triton Electric Vehicle LLC, USA, has issued a Letter of Intent (Lol) to Navratna Defence PSU Bharat Electronics Limited (BEL) for procurement of 300 KW Li-Ion Battery Packs for its Semi-truck project in India at an estimated value of Rs8060 crore.

As per the filing, the battery packs are to be delivered by BEL to Triton in 24 months commencing from January 2023. The Purchase Order for first-off quantity with hundred percent advance payment has been handed over to BEL by Triton. BEL will deliver the first-off quantity by November 2022. The battery packs will be manufactured at Pune unit of BEL.

BEL has also signed an MoU with Triton Electric Vehicle (TEV), for manufacture of Hydrogen Fuel cells by BEL with technology transfer from TEV, to meet the requirements of Indian market and mutually agreed export markets.

The MoU aims at tapping the demand for clean energy solutions for various applications including for E- Mobility, by leveraging Government of India,s thrust for adoption of clean energy fuels for applications in transport, energy storage etc.

At around 9:19 AM, Bharat Electronics Ltd is currently trading at Rs107.25 per share up by Rs1.4 or 1.32% from its previous closing of Rs105.85 per share on the BSE.

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