Atul Greentech, an EV manufacturer, recently signed a supply agreement with Exide Energy Solutions for lithium-ion batteries, to boost India’s electric mobility sector.
Details of the Agreement
Mumbai, October 23 (PTI) — On Wednesday, Atul Greentech, an electronic vehicle manufacturer, said that it had signed an agreement with Exide Energy Solutions (EESL) to supply lithium-ion batteries.
Sourcing Battery Packs from EESL
According to the agreement, Atul Greentech Pvt Ltd, a subsidiary of Atul Auto, will source lithium-ion battery packs from EESL’s manufacturing facility in Prantij, Gujarat, and cells from the latter once EESL begins production at its manufacturing facility in Bangalore, Karnataka, AGPL said in a statement.
MoU increases India’s EV self-reliance.
Vijay Kedia, CEO of Atul Auto Limited, said “With the addition of domestically produced lithium-ion cells, this MoU not only enhances India’s self-reliance but also sets the stage for a sustainable and innovative future in electric mobility, driving the nation forward”.
Atul Auto is a three-wheeler manufacturer with an established presence in the local and international markets as well as a broad dealer network whereas AGPL develops and manufactures EVs for last-mile mobility solutions.
EESL, a wholly-owned subsidiary of Kolkata-based lead-acid battery manufacturer Exide Industries Limited, was founded in 2022 to produce lithium-ion cells, modules, and packs.
Commitment to a Reliable Battery Supply
“The proposed agreement enhances both companies’ commitment to advancing the electric vehicle industry by guaranteeing a consistent and reliable supply of lithium-ion battery packs and technology,” stated Mandar V Deo, EESL’s Joint Managing Director.
Exide has also been a long-time supplier of batteries for Atul Auto’s traditional car lineup, he said.
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