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Under the five-year proposed strategic alliance, Triton EV has selected WMIL as its manufacturing partner for battery-operated trucks for India and the UAE, the company said in a statement.
Vadodara, December 01, 2023: Wardwizard Innovations & Mobility Ltd., a leading manufacturer of electric vehicles under the ‘Joy e-bike’ brand in India, signed a Memorandum of Understanding (MOU) with Triton EV, a distinguished U.S.-based electric
Several companies, including South Korea's LG Energy Solution Ltd., and prominent local entities such as Mahindra & Mahindra Ltd., Amara Raja Energy & Mobility Ltd., Exide Industries Ltd., and Larsen & Toubro Ltd., reportedly expressed interest during a consultation meeting with government officials.
The program will require winning bidders to set up advanced chemistry battery plants with a total output of 20 gigawatt hour, said the people, declining to be named as the plans are private. The government will seek bids from potential investors next month, they said.
In a bold move towards fostering the electric vehicle (EV) ecosystem, India is set to roll out an incentive program with an estimated value of 80 billion rupees ($960 million). Sources familiar with the matter have revealed that the program will invite bids from interested parties, signaling a strategic push towards enhancing the domestic production of electric vehicle batteries.