Tesla rival Triton Electric Vehicle to set up ₹2,100 Cr- facility in Telangana
Triton Electric Vehicle Pvt Ltd recently 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.
Principal Secretary for IT and Industries Jayesh Ranjan and Triton Electric Vehicle Pvt Ltd India development head M Mansoor signed the MoU in the presence of IT and Industries Minister KT Rama Rao, an official release said.
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"With an investment of ₹2,100 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," it said.
The State government will provide the required land to the firm through Telangana State Industrial Infrastructure Corporation at NIMZ Zaheerabad, the release said.
Rama Rao said the government will extend complete support for the company to acquire the necessary approvals for setting up the facility.