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Bharat Electronics to deliver lithium-ion battery packs to Triton EV in 24 months, starting Jan 2023

Bharat Electronics to deliver lithium-ion battery packs to Triton EV in 24 months, starting Jan 2023

Bharat Electronics to deliver lithium-ion battery packs to Triton EV in 24 months, starting Jan 2023
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By Asmita Pant  Oct 20, 2022 11:00 AM IST (Published)

The shares of the navratna defence PSU rose as much as 3.1 percent on Thursday. The  stock of BEL was trading two percent higher at Rs 108 on BSE at 10:14 am. 

Defence PSU Bharat Electronics Ltd has received a letter of intent (LoI) from electric vehicle maker Triton Electric Vehicle India Pvt Ltd for the procurement of battery packs for its semi-truck project in India, at an estimated value of Rs 8,060 crores. The filing stated that the 300-kilowatt lithium-ion battery packs are to be delivered by BEL to Triton in 24 months commencing from January 2023.

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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, the PSU said in an exchange filing.
The shares of the navratna defence PSU rose as much as 3.1 percent on Thursday.
BEL has also signed an memorandum of understanding with Triton Electric Vehicle, 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," the company said.
Triton Electric Vehicle LLC is headquartered in Cherry Hill, New Jersey-USA. The company recently set up its R&D centre and manufacturing facility in India and has forayed into Hydrogen run vehicles.
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