Atul Greentech signs battery supply pact with Exide Energy

Indian EV maker Atul Greentech has signed an agreement with Exide Energy Solutions Limited (EESL) for the supply of lithium-ion batteries.

Atul Greentech Pvt Ltd (AGPL), a subsidiary of Atul Auto, said it would source lithium-ion battery packs from EESL’s manufacturing facility in Prantij, Gujarat, according to a report by Indian news agency PTI.

AGPL will also source batteries from EESL’s facility in Bangalore, Karnataka, once production starts there, Atul Greentech 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.

Atul Auto has a presence in domestic and international markets and a robust dealer network. AGPL specializes 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 to manufacture 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 state-of-the-art lithium-ion battery packs and technology,” EESL Joint Managing Director Mandar V Deo said.

Exide has been a longstanding supplier of batteries for Atul Auto’s conventional vehicle range.

Earlier this month, AGPL said it was partnering with Jio Platforms to offer electric vehicle solutions to its customers in domestic and global markets, including South America, the European Union and Eastern Africa.

In March, Atul Auto announced a strategic investment of nearly ₹200 million in AGPL through a subscription of equity shares on a rights basis.