Triton EV Signs MoU With BEL to Develop EV Opportunities in India

The US-based new subsidiary of Triton Solar, Triton EV, has announced its expansion plans in India with its manufacturing facility set up for electric vehicles (EVs) and energy storage systems.

“We have announced the availability of SUV Model H and Triton EV Sedan Model N4. Very soon, we will showcase these Triton EVs for Indian consumers,” announced the company.

Triton EV recently signed a Memorandum of Understanding (MoU) with Bharat Electronics Limited (BEL). The two organizations will work on Energy Storage Systems & Electric Vehicles development.

“We are working on making a strong and most robust EV production center out of India. Our manufacturing facility will not be an assembly line for the cars, but we will make and produce most of the critical products and components required to produce a best-in-class EV. The in-house production capacity will differentiate Triton EV from others. However, there will be huge and massive scope for the regional MSMEs to work with us and contribute to the development of these EVs,” says Himanshu B Patel, CEO & Founder of Triton EV.

Recounting Triton EV’s Indian manufacturing plans, Himanshu stated, “We are in discussions with few authorities and state governments. Uttar Pradesh Government and Gujarat State Government representatives are proactively discussing the possibilities of Triton EV’s entry to any of these places.”

“Our legal team evaluates the scope of EV policies of these states and strategic values for the company and product. Niti Aayog has been very supportive in ensuring all the necessary support for our Indian entry,” Patel added.

The upcoming manufacturing facility of Triton EV will produce EVs for India and other countries such as Bangladesh, Sri Lanka, Nepal, the Middle East region, and Africa. “We expect a substantial amount of export revenue from this manufacturing setup. We aim to cater to the needs of many countries for Electric vehicles from the Indian Manufacturing base,” informed Himanshu B Patel.

Additionally, Triton EV is involved in the Energy Storage System business ranging from transportable small battery packs to a 10 MWh battery storage unit for customers in the USA and abroad for applications like energy generation, load management, EV charging stations. Triton is also involved in the manufacturing of Electric Vehicles using battery technologies developed by them.

Elaborating his plans in India, Himanshu said, “EV Car Manufacturing facility carries the capability to transform the MSME ecosystem of its region. In an estimated calculation, the Triton EV manufacturing facility will create opportunities for over 2000 MSMEs within the first year of operations.”

“In addition to this, over 10000 Smaller or micro-units operating in the various auto parts and auto components can expect to work with EV manufacturing companies as a vendor. So, Triton EV is set to bring an opportunity to a large number of the MSMEs wherever it is going to open its manufacturing operations,” Himanshu continued.