The investment of INR 2100 crore for ultra-modern electric vehicle manufacturing unit will bring in huge opportunities for wire and cable manufacturers in India.
June 25, 2021
Triton Electric Vehicle Pvt. Ltd. has entered into a MoU with the Telangana government for setting up a manufacturing unit for electric vehicles at the National Investment & Manufacturing Zone at Zaheerabad.
With an investment of INR 2100 Crore, Triton Electric Vehicle Pvt. Ltd. will establish an ultra-modern electric vehicle manufacturing unit in Telangana. The project will employ more than 25,000 persons and produce 50,000 vehicles over the first five years, including semi-trucks, sedans, luxury SUVs, and rickshaws.
The State government of Telangana will provide the required land to the Triton through Telangana State Industrial Infrastructure Corporation at NIMZ Zaheerabad.
Principal Secretary for IT and Industries Mr. Jayesh Ranjan and Triton Electric Vehicle Pvt. Ltd. India Development Head Mr. M Mansoor signed the MoU in the presence of IT and Industries Minister KT Rama Rao.
Also Read: India Electric Vehicles Sales to Grow at 26 Percent by FY23.
Rama Rao said the government will extend complete support for the company to acquire the necessary approvals for setting up the facility.
