META4 has planned to establish an EV two-wheeler manufacturing plant in Telangana.
The company said it will invest Rs250 crore to establish the EV manufacturing plant and inked a pact with the Telangana state government in this regard.
“With this investment, META4 intends to bring quality-driven EVs to the Indian market under the FAME-2 approvals set by the Indian regulatory authority, and it will simultaneously enable space towards a strong economic drive-in electric mobility,” said META4 Group CEO Muzammil Riyaz.
META4 said it is investing in Voltly Energy, which provides advanced EV two-wheeler manufacturing and delivers energy-efficient EV charging solutions for all electrified vehicles.
Riyaz further stated that “to produce cutting-edge products, the new EV manufacturing plant will have major automation integration, including the latest semi-robotics and cutting-edge manufacturing machinery. The manufacturing plant, with an initial production capacity of 40,000 units, would help create nearly 500 direct and 2,000 indirect jobs in the State.”
Voltly Energy Director Aditya Reddy adds: “We not only aim to serve our customers in India but also export vehicles to other global markets.”
The Telangana government will provide 15 acres of subsidized land to META4 at Zaheerabad, Telangana.