Shares of Bharat Electronics Ltd ended at Rs 105.85, down by Rs 0.100, or 0.094 percent on the BSE.
Navratna defence PSU Bharat Electronics Ltd (BEL) on Wednesday, October 19, said it has signed an MoU with Triton Electric Vehicle (TEV), for the manufacture of hydrogen fuel cells, with technology transfer from the latter to meet the requirements of the Indian market and mutually-agreed export markets.
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The memorandum of understanding (MoU) aims at tapping the demand for clean energy solutions for various applications, including for e-mobility, by leveraging the government of India's thrust for the adoption of clean energy fuels for applications in transport, energy storage etc.
Triton Electric Vehicle LLC is headquartered in Cherry Hill USA, and recently set up its R&D centre and manufacturing facility in India with best-in-class infrastructure and expertise.
The company has recently forayed into hydrogen run vehicles, and has started the journey of manufacturing hydrogen-run two-wheelers, three-wheelers and buses.
BEL is a leader in defence electronics and has in recent years been continuously exploring opportunities in allied non-defence areas as part of its diversification initiatives. BEL's wide bouquet of business interests in non-defence includes energy storage products for electric vehicles such as Li-ion and fuel cells and charging stations.