Atul Auto jumps after signing EV MoU with Exponent Energy

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 of Exponent's battery system and powertrain, quality control, end-of-line testing, and delivery of fully built vehicles to Exponent.

Atul Auto is a leading three-wheeler manufacturing company in Rajkot, Gujarat, India. It has a complete range of 3-wheeler products across the fuel range: diesel, petrol, CNG, LPG, and electric.

The company's consolidated net profit zoomed 98.06% to Rs 15.35 crore in Q3 FY26 as against Rs 7.75 crore posted in Q3 FY25. Total revenue from operations grew by 18.39% year-on-year (YoY) to Rs 230.86 crore in the quarter ended 31 December 2025.