Mumbai, April 24 -- The contract is valued at approximately Rs 490.5 crore, with each Exponent-enabled vehicle priced at around Rs 3.27 lakh. The order will be executed over a period of three years, extendable by an additional six months from the date of state transport authority approvals.

Atul Auto will act as the original equipment manufacturer (OEM) for the electric three-wheelers integrated with Exponent's battery system and powertrain. The collaboration includes manufacturing, supply, servicing, and customer support of electric three-wheelers, it said.

The vehicles will offer 15-minute rapid charging and come with a battery life warranty of up to 2 lakh km. Atul Auto will handle vehicle-level manufacturing, including integration o...