EV maker Atul Greentech inks battery supply pact with Exide Energy Solutions

EV maker Atul Greentech inks battery supply pact with Exide Energy Solutions

Electronic vehicle maker Atul Greentech on Wednesday said it has signed an agreement with Exide Energy Solutions (EESL) for supply of lithium-ion battery.

As per 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 source cells from the latter once EESL commences production at its manufacturing facility in Bangalore, Karnataka, AGPL said in a statement.

"With the integration of domestically manufactured lithium-ion cells, this MoU not only strengthens India's self-reliance but also sets the stage for a sustainable and innovative future in electric mobility, driving the nation forward," said Vijay Kedia, Director at Atul Auto Ltd.

Three-wheeler maker Atul Auto has a strong presence in domestic as well as international markets along with a widespread dealer network, while AGPL specialises in the development and manufacturing of EVs for last-mile mobility solutions.

EESL, a wholly-owned subsidiary of Kolkata-based lead-acid battery maker Exide Industries Limited, was established in 2022 for manufacturing of lithium-ion cells, modules, and packs.

"The proposed arrangement reinforces both companies' dedication to advancing the electric vehicle industry by guaranteeing a consistent and reliable supply of lithium-ion battery packs and technology," said Mandar V Deo, Joint Managing Director at EESL.

Exide has also been a longstanding supplier of batteries for Atul Auto's conventional vehicle range, he added.