New Delhi, June 22 -- Agratas, the Tata group's electric-vehicle battery arm, has signed a seven-year supply agreement worth $530 million (about Rs.5,000 crore) with group company Jaguar Land Rover, beginning this fiscal year, according to company disclosures and an executive aware of the deal.

Agratas' first supply agreement is expected to initially cover the supply of NMC (nickel manganese cobalt) battery cells and generate about $42 million ( Rs.400 crore) in revenue in FY27, according to a Tata Motors Passenger Vehicle Ltd resolution seeking shareholder approval for the related-party transaction and the executive.

The proposed multi-year agreement delivers long-term shareholder value through supply security, cost competitiveness, te...