Triton Electric Vehicle issues Rs 8060 Cr LoI to BEL for purchase of Battery Packs for Electric Trucks
Oct 20, 2022
Gandhinagar (Gujarat) [India], October 20 (ANI/BusinessWire India): Triton Electric Vehicle India Pvt Ltd, a part of Triton Electric Vehicle LLC, USA, today issued a Letter of Intent (LoI) to Navratna Defence PSU Bharat Electronics Limited (BEL) for procurement of 300 KW Li-Ion Battery Packs for Triton's Semi-Truck project in India at an estimated value of Rs. 8060 Crores.
Dinesh Kumar Batra, CMD, BEL, received the LoI from Himanshu B Patel, CEO & Founder, Triton Electric Vehicle LLC today at DefExpo 2022 in Gandhinagar, in the presence of Mr Manoj Kumar, Executive Director, BEL, and other senior officers of BEL and TEV.
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.
While talking about this LoI, Himanshu B Patel, CMD of
(TEV) stated, "We are committed towards building best in class product range in advanced mobility segment specially. Triton EV Semi-Truck and Triton's Hydrogen-Powered Vehicles will definitely going to be industry leading products in their respective categories. In order to build such robust product range, I am happy to get closely associated with BEL as their technical expertise shall ensure best-in-class quality standards which will be our prime focus."
BEL and Triton Electric Vehicle (TEV) Signed MoU at DefExpo 2022
Ealier, on the second day of DefExpo 2022, India's flagship Navratna Defence PSU- Bharat Electronics Ltd (BEL) has signed an MoU with Triton Electric Vehicle (TEV), for the manufacturing of Hydrogen Fuel cells by BEL with technology transfer from TEV, 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 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.
"This indeed a great collaboration for delivering cutting edge and truly environment-friendly mobility. Hydrogen is the cleanest energy form for today's mobility and this collaboration will ensure India's global leadership in Advance Mobility," Himanshu Patel, MD and Founder of Triton Electric Vehicle (TEV) said.
At the DefExpo 2022 in Gandhinagar, TEV displayed a Defense hydrogen scooter along with a Special Purpose Off Road Dirt Bike. Also Displayed
flagship 5kw hydrogen system. Booth 18 Hall 2 also outdoor area. TEV is also developing Hydrogen Buses which will be another first for the Industry. The company is working on launching these hydrogen-powered buses very soon to the Indian Market.
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