Atul Auto surges 16% after tie-up with Valeo, Honda Power Pack Energy India

Three-wheeler maker Atul Auto share price climbed nearly 16 percent intraday on April 21 after the company had joined hands with Valeo and Honda Power Pack Energy India for electric vehicles with battery swapping solution.

The stock hit a day's high of Rs 213 in morning and at 14:58 hours IST, it was trading at Rs 207.10, up 12.52 percent on the BSE.

Atul Auto, in its BSE filing on April 20, said its subsidiary Atul Greentech (AGPL) would launch the e-vehicle after successful completion of field trials. "The vehicle with swapping battery will be equipped with Valeo's integrated compact electric powertrain system."

To enlarge product offering and to better service the needs of the last mile mobility customers, Atul Greentech is now collaborating with Honda Power Pack Energy India and Valeo to develop the prototype cargo and passenger three wheeler with the most reliable Honda Mobile Power Pack e:Swap & Valeo powertrain system, Atul Auto said.

Atul Greentech is engaged in designing and developing innovative solutions for last mile electric mobility for domestic and export markets. Over the last couple of years, AGPL has developed automotive grade fix thermal battery solutions, battery management systems and vehicle telematics solutions.

Honda Power Pack Energy India is a subsidiary of Honda Motor Company Ltd, Japan while Valeo is a partner to all automakers worldwide.