Triton EV, a manufacturer of electric vehicles, issues a letter of intent to Bharat Electronics, a defense-related public sector organization, to purchase defense-related public sector organization, for the purchase of battery packs with an estimated cost of Rs 8,060 crore.
Triton EV issues Rs 8,060 cr Letter of Intent to BEL for purchase of battery packs
A Letter of Intent (LoI) for the purchase of 300 KW Li-Ion Battery Packs for Triton’s Semi-Truck project in India was issued today by Triton Electric Vehicle India Pvt Ltd, a division of Triton Electric Vehicle LLC, USA, to Navratna Defence PSU Bharat Electronics Limited (BEL). The estimated cost of the purchase is almost about Rs. 8060 Crores.
At DefExpo 2022 in Gandhinagar today, Dinesh Kumar Batra, CMD of BEL, accepted the letter of intent from Himanshu B. Patel, CEO and founder of Triton Electric Vehicle LLC, in the presence of Mr. Manoj Kumar, Executive Director of BEL, and other senior officers of BEL and TEV(Tetron Elecric Vehicle).
BEL must deliver the battery packs to Triton within 24 months from January 2023. Triton has presented to BEL a Purchase Order for a one-time quantity with a full advance payment. The first-off quantity will be delivered by BEL by November 2022. BEL and Triton Electric Vehicle (TEV) signed an agreement at DefExpo 2022.
Earlier, on the second day of DefExpo 2022, Bharat Electronics Ltd. (BEL), the nation’s pioneer Navratna Defense PSU, signed an MoU with Triton Electric Vehicle (TEV) for the production of hydrogen fuel cells by BEL with technology transfer from TEV, to fulfill the requirements of the Indian market and mutually acceptable export markets.
Triton Electric Vehicle (TEV) CMD, Himanshu B. Patel made the statement about the letter of intent ” 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.”
By utilizing the Government of India’s push for the adoption of clean energy fuels for applications in transport, energy storage, etc., the MoU aims to meet the demand for clean energy solutions for a variety of applications, including for e-mobility. Triton Electric Vehicle’s (TEV) MD and founder, Himanshu Patel, stated “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.”
TEV presented a Defense hydrogen scooter and a Special Purpose Off Road Dirt Bike at DefExpo 2022 in Gandhinagar. TEV’s top-of-the-line 5kw hydrogen system was also displayed as well. Hall 2 booth 18 also has a patio. Additionally, TEV is creating hydrogen buses, which will be a first in this market. The company is currently aiming to introduce these hydrogen-powered buses to the Indian market as soon as possible.