- Triton has inked a pact with India’s state-owned Bharat Electronics Limited (BEL) for co-operation on energy storage systems and electric vehicles development.
- As per the memorandum of understanding (MoU), BEL will be the exclusive manufacturing partner to Triton in India to supply the identified products.
- “Through this partnership we aim to produce an innovative ‘Make In India’ product which will transform the Indian EV and ESS segment,” Himanshu Patel, managing director of Triton EV said.
The New Jersey-based electric car maker Triton has roped in India’s state-owned Bharat Electronics Limited (BEL) to make batteries. The much-awaited memorandum of understanding (MoU) has been signed where Triton will provide the know-how and BEL will make them.
In a written response to Business Insider, Himanshu Patel, Managing Director of Triton EV, said, “we are excited to see the market response from India. Joining hands with BEL will definitely strengthen our commitment towards technology and clean energy driven EV and ESS market. The whole world respects India’s technical capabilities in various sectors, we wish to leverage this through building great products around ESS and EVs.” ESS stands for energy storage system.
This came after Patel earlier in an exclusive chat with Business Insider confirmed that the company was in final stage discussion with Bharat Electronics Limited (BEL) to assist it in manufacturing its battery. “Through this partnership we aim to produce an innovative ‘Make In India’ product which will transform the Indian EV and ESS segment,” Patel added.
Triton has big plans for the Indian market
The carmaker has recently launched its Triton N4 sedan model as it gears up to enter Indian market this year. Triton is looking to invest around $650 million to $1 billion in setting up a manufacturing facility in India. The company currently has its research and development unit set up in Pune, and it is also in talks with different state authorities to set up its facility in India. However, the CEO declined to name those in an earlier interview.
Triton is looking to start manufacturing its first vehicle in 3-6 months from now and aims to roll out the first car by the end of this year.
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