Triton signs EV battery packs, hydrogen fuel cells deal with BEL

The India arm of USA-headquartered Triton Electric Vehicle has issued an INR 8,060 crore (around $971 million) Letter of Intent to state-owned Bharat Electronics Ltd (BEL) for the purchase of EV battery packs. It will also transfer its technology to BEL for production of hydrogen fuel cells in India.

October 20, 2022 Uma Gupta

Himanshu B Patel, CMD of TEV, with Dinesh Kumar Batra, CMD of BEL

Image: Triton Electric Vehicle

Triton Electric Vehicle India, a part of USA-headquartered Triton Electric Vehicle, has issued a Letter of Intent (LoI) to state-owned defense electronics manufacturer Bharat Electronics Ltd for the purchase of 300 kW Li-Ion battery packs for its semi-truck project in India. The battery pack contract is worth around INR 8,060 crore.

As per the contract, BEL must deliver battery packs to Triton in 24 months commencing from January 2023. “The purchase order for the first-off quantity with 100% advance payment has been handed over to BEL by Triton. BEL will deliver the first-off quantity by November,” stated BEL.

BEL will manufacture the battery packs at its Pune unit.

BEL also signed a memorandum of understanding (MoU) with Triton Electric Vehicle to manufacture hydrogen fuel cells. It will produce these cells with technology transfer from Triton Electric Vehicle to meet the requirements of the Indian market and mutually agreed export markets.

The MoU aims at tapping the demand for clean energy solutions for various applications, including e-mobility, energy storage, etc.

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