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.
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