MoU24 Apr 2026, 08:49 am
Atul Auto inks MoU with Exponent for 15,000 Electric 3-Wheelers
AI Summary
Atul Auto Ltd has signed a Memorandum of Understanding (MOU) with Exponent Energy Private Limited to manufacture and supply 15,000 electric three-wheelers integrated with Exponent’s battery system and powertrain. The collaboration spans three years from the date of state transport authority approvals and is extendable by six months. The deal is valued at ₹490.50 Crore, including the cost of the battery system and powertrain from Exponent, with each vehicle priced at approximately ₹3.27 Lacs (excluding GST).
Key Highlights
- Atul Auto to manufacture and supply 15,000 electric three-wheelers with Exponent's technology.
- The collaboration period is three years from state transport authority approvals, extendable by six months.
- The deal is valued at ₹490.50 Crore, including battery and powertrain costs.
- Each vehicle is priced at approximately ₹3.27 Lacs (excluding GST).
- Atul Auto will handle vehicle manufacturing, integration, quality control, and delivery.