Triton Electric Vehicle Pvt Ltd will manufacture semi-trucks, sedans, luxury SUVs and rickshaws in India. For this, the company is going to set up a manufacturing unit in Zaheerabad, Telangana.
Triton Electric Vehicle
Tesla has decided to set up a research and development center along with its manufacturing unit in Bengaluru a few months back. This company has not yet launched any car in India and its biggest rival company Triton has entered India. Triton Electric Vehicle Pvt Ltd has recently signed an MoU with the Government of Telangana to set up a manufacturing unit for Electric Vehicles in the National Investment and Manufacturing Zone in Zaheerabad.
Jayesh Ranjan, Principal Secretary, IT & Industries, and M Mansoor, Development Head, Triton Electric Vehicles Pvt Ltd India, signed the MoU in the presence of IT and Industries Minister KT Rama Rao, an official release said.
The company will give more than 25000 jobs
It states that “With an investment of Rs 2,100 crore, Triton Electric Vehicles Pvt Ltd will set up an ultra-modern electric vehicle manufacturing unit in Telangana. The project will employ over 25,000 people and produce 50,000 vehicles in the first five years. This will include semi-trucks, sedans, luxury SUVs and rickshaws etc.
Delighted to announce that Triton EV – a leading US based Electric Vehicle company will be investing ₹ 2,100 Crores to establish an ultra-modern EV manufacturing unit at NIMZ, Zaheerabad in Sangareddy district
An MoU is signed between Triton EV & Govt of Telangana today pic.twitter.com/HeHG6wHdw3
– KTR (@KTRTRS) June 24, 2021
The state government will provide necessary land to the firm through Telangana State Industrial Infrastructure Corporation at NIMZ Zaheerabad, the release said. Rama Rao said that the government would extend full support to the company to get the necessary approvals to set up the plant.
Himanshu B Patel, CEO and Founder, Triton Electric Vehicles Pvt Ltd said that his company is expanding rapidly to meet the growing demand for electric vehicles. He said the company has explored investment opportunities in various states across the country and finally decided to move to Telangana considering its favorable industrial policies.
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