Time Technoplast has informed that NED Energy, a subsidiary of the company has signed a Memorandum of Understanding (MOU) with Tesla Power USA INC for orders worth Rs 100 crores (appx). This is for supply of VRLA Batteries of different sizes for applications covering Power, Solar, UPS etc. Tesla Power USA INC is a pioneer and leader in energy storage industry globally and this supply will be for India and overseas markets. The MOU has been signed for the FY 2022-23 and the agreed pricing is variable based, linked to the major exchange.
The above information is a part of company’s filings submitted to BSE.
