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.
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The State government will provide the required land to the firm through Telangana State Industrial Infrastructure Corporation at NIMZ Zaheerabad, the release said.
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Rama Rao said the government will extend complete support for the company to acquire the necessary approvals for setting up the facility.
