United Arab Emirates-based META4 Group will invest Rs 250 crore to set up an electric two-wheeler manufacturing plant in Telangana. The company has signed an MoU with the government of Telangana to procure 15 acres of subsidised land in the National Investment & Manufacturing Zone at Zaheerabad, Telangana. META4 has made this investment through Voltly Energy – which provides solutions for electric two-wheeler manufacturing and delivers energy-efficient EV charging solutions across segment.
The MoU was signed by the management team of Volty Energy in the presence of Telangana State’s IT and Industries Minister KT Rama Rao and Jayesh Ranjan, Principal Secretary, Industries & Commerce I&C and Information Technology, government of Telangana. The plant is expected to be functional by the end of this fiscal year and the idea is to manufacture at least 40,000 units in the first phase of the plant launch, which can be later scaled upto 100,000 units within the next three years. Muzammil Riyaz, Group CEO, META4 said, “With this investment with the Telangana government, META4 intends to bring quality driven EVs to the Indian market in accordance with the FAME II approvals set by the Indian regulatory authority, and it will simultaneously enable space towards a strong economic drive in electric mobility.
This collaboration will hopefully pave the way for Voltly Energy to accelerate their vision of Make-in-India campaign and establish their identity as a purely Indian entity. ” META4 says the manufacturing plant will have major automation integration, including semi-robotics and cutting-edge manufacturing machinery, the plant will help create nearly 500 direct and 2,000 indirect jobs in the state. Rama Rao, affirmed “Entire nation is working hard towards achieving the e-mobility mission.
Amidst this revolution we are happy that the state is fast transforming into a favourite destination for the electronic vehicle manufacturing sector. We are glad that META4 chose Telangana as their hub, and we believe that with their commitments for smart mobility they will be a big contributor for the EV revolution in the country. We are committed to provide all support to Voltly Energy to acquire the necessary approvals for setting up their facility and assured the firm of providing several incentives applicable for a megaproject under the TSIIC guidelines.
” Aditya Reddy, Director, Voltly Energy said, “To cater to the growing EV market in India, we are happy to choose Hyderabad as our manufacturing location as being a Tech city this always brings new technology and innovation to the Indian consumer. To cater to the growing EV market in India, we not only aim to serve our customers in India but also export vehicles to other global markets. We also intend to collaborate with the state to establish skill development programs, as EV aftersales service requires a specialised skill set.
” Voltly Energy says manufacturing will also include batteries and charging stations, resulting in a total 360deg ecosystem geared toward sustainability. .
From: financialexpress
URL: https://www.financialexpress.com/express-mobility/vehicles/2-wheelers/uaes-meta4-group-voltly-energy-plan-rs-250-crore-e2w-plant-in-telangana/2558553/
