META4 will invest INR 250 crore to set up an electric two-wheeler manufacturing unit in the state of Telangana.
New Delhi: United Arab Emirates-based group META4 on Monday announced investing in smart green mobility initiatives in India by setting up an Electric Vehicles manufacturing plant in Telangana and has signed a MOU with Government of Telangana. The Telangana government will provide 15 acres of subsidized land in the National Investment and Manufacturing Zone at Zaheerabad, Telangana, the company said in a release.
META4 has made this investment through Voltly Energy which provides advanced EV 2-wheeler manufacturing and delivers energy-efficient EV charging solutions for all electrified vehicles. As part of its sustainable drive, META4 will invest INR 250 crore to set up an electric two-wheeler manufacturing unit in the state of Telangana.
With the support of the Government of Telangana, the company aims to make the plant functional by the end of this fiscal year. Voltly Energy aims to manufacture at least 40,000 units in the first phase of the plant launch, and capacity will easily be taken up to 100,000 within the next three years.
“With this investment with the Telangana Government, META4 intends to bring quality driven EVs to the Indian market in accordance with the Fame2 approvals set by the Indian regulatory authority, and it will simultaneously enable space towards a strong economic drive in Electric Mobility. The brand actively shares the larger vision of reducing the carbon emissions in the country, that goes in sync with the Honb. Prime Minister Narendra Modi’s “Panchamrit” vision. 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,” Muzammil Riyaz, Group CEO, META4, said.
To produce cutting-edge products, the new manufacturing plant will have major automation integration, including the latest semi-robotics and cutting-edge manufacturing machinery, the plant will help create nearly 500 direct and 2000 indirect jobs in the state.
During the MoU signing Minister for Municipal Administration and Urban Development, Industries and Commerce, and Information Technology of Telangana, KT Rama Rao, said, “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.
“To cater to the growing EV market in India, we are happy to choose Hyderabad as our manufacturing location as being a Tech city that 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 programmes, as EV after-sales service requires a specialised skill set,” Aditya Reddy, Director, Voltly Energy Pvt. Ltd., said.
Voltly Energy further aims to expand the array of make in India products to be manufactured. Manufacturing will also include batteries and charging stations, resulting in a total 360° ecosystem geared toward sustainability.
Source: indiaev.com
