New Jersey headquartered Triton Electric Vehicle has signed a memorandum of understanding with Bharat Electronics Limited (BEL) for co-operation on energy storage systems and electric vehicles (EV) development.
Triton EV is involved in the energy storage system (ESS) business ranging from transportable small battery packs to a 10 MWh battery storage unit for customers in the USA and abroad for applications like energy generation, load management and EV charging stations.
BEL designs, develops, manufactures and supplies electronic systems, control units, battery packs, BMS, chargers amongst others. Together, the two companies plan to cooperate on manufacturing sub-systems and battery assembly for energy storage systems and electrical vehicles for customers in the USA, India and other countries.
According to the MoU, BEL will be the exclusive manufacturing partner to Triton in India for supply of the identified products. Triton will provide the know-how and technical documentation required for the manufacturing of these products, the company said in a statement.
“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,” Himanshu B Patel, managing director of Triton EV said.
Recently Triton launched the Triton EV Model N4 sedan for the Indian market.
The EV market is gaining traction across the world. Last month, Elon Musk-owned Tesla registered itself as a fully-owned subsidiary in Bengaluru.
The EV maker is looking to set up an R&D unit in the city too.