Triton Letter of Intent

Triton Electric Vehicle India (TEV) has issued a Letter of Intent (LoI) to Bharat Electronics Ltd. (BEL) for the procurement of battery packs. These battery packs will be used for its semi-truck project in India valued at ~ Rs.8,060 crore. As a part of the agreement, 37 lakh units of 300 kW lithium-ion battery packs will be procured by TEV and will be delivered within 24 months by Navaratna Defence PSU, BEL, after commencing from January 2023. Dinesh Kumar Batra, Chairman and Managing Director of BEL received the LoI from Himanshu B Patel, CEO and Founder of Triton Electric Vehicle LLC at Defexpo 2022, held in Gandhinagar. As per the filing, these battery packs will be manufactured at the Pune unit of BEL. BEL has also signed an MoU with TEV for the manufacture of hydrogen fuel cells by BEL with technology transfer from TEV, to meet the requirements of the Indian market and mutually agreed export markets.