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US Based EV Maker Triton To Set Up Manufacturing Unit In Telangana With Rs 2,100 Crore, To Provide 25,000 Jobs
Officials of the company and state govt signing an MoU (@KTRTRS/Twitter)
Boosting the Government's Make in India push and the overall thrust for electric mobility in Telangana, Triton Electric Vehicle Private Limited is set to invest Rs 2,100 crore in the State to set up a manufacturing unit, reports The Economic Times.
As per an official release, once the unit comes up at the National Investment and Manufacturing Zone at State's Zaheerabad, it will employ more than 25,000 persons and produce 50,000 vehicles over the first five years. These will include semi-trucks, sedans, luxury SUVs, and rickshaws.
The State Government will provide the required land to the company through Telangana State Industrial Infrastructure Corporation for the project. State's IT and Industries Minister KT Rama Rao said that the company would also be extended complete support from the State Government's end to acquire necessary approvals for setting up the facility.
The project memorandum of understanding (MoU) was signed by the company's development head M Mansoor and State's Principal Secretary for IT and Industries Jayesh Ranjan in Rao's presence yesterday (24 June).
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