The Pune Unit of Navratna Defence PSU Bharat Electronics Limited (BEL) will manufacture Li-ion battery packs for the electric trucks of Triton, US, as part of an MoU signed between the two companies to explore manufacturing of battery cells in India for Energy Storage Systems and electric vehicles in the Heavy Vehicle segment for the requirements of customers in USA, India and other countries.
Triton has recently signed an MoU with the Gujarat State Government for setting up an iconic EV Truck Manufacturing Plant, with a commitment to invest around Rs 10,800 Crores over a span of five years. BEL is among five organisations which will be investing in this Triton EV manufacturing hub at Bhuj, Gujarat.
BEL, a leader in Defence electronics, has in recent years been continuously exploring opportunities in allied non-defence areas as part of its diversification initiatives. BEL’s wide bouquet of business interests in non-Defence includes energy storage products for Electric Vehicles such as Li-ion and Fuel Cells, Charging Stations, etc. The company has acquired the technology for Li-Ion cells and is setting up a state-of-the-art facility for its manufacturing.
The partnership between BEL and Triton is set to give a major boost to the Make in India initiative and EV thrust of the Government, in the journey towards an Atmanirbhar Bharat initiative.