Triton EV issues ‘Letter of Intent’ to BEL for purchase of battery packs

The filing stated that the 300-kilowatt lithium-ion battery packs are to be delivered by Bharat Electronics (BEL) to Triton in 24 months commencing from January 2023.

“Triton Electric Vehicle India Pvt Ltd, a part of Triton Electric Vehicle LLC, USA today issued a letter of intent to Navaratna Defence PSU Bharat Electronics for procurement of 300 KW Li-Ion battery packs for its semi-truck project in India at an estimated value of ₹8,060 crore,” the filing said as seen by PTI.

Dinesh Kumar Batra, BEL chairman and managing director has received LoI from Triton Electriv Vehicle LLC CEO and Founder Himanshu B Patel at Defexpo 2022 in Gandhinagar.

“The purchase order for the first-off quantity with 100 per cent 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 the Pune unit of BEL,” the filing said as quoted by PTI.

BEL has also inked a memorandum of understanding (MoU) with Triton Electric Vehicle for the manufacture of Hydrogen Fuel Cells with technology transfer from TEV to meet the requirements of the Indian market and mutually agreed on export markets.

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

TEV has set up its R&D (Research and Development) center and manufacturing facility in India. It has recently forayed into Hydrogen-run vehicles and started the journey of manufacturing Hydrogen-run two-wheelers, three-wheelers, and buses.

(With PTI inputs)