In a major move, US -based electric vehicle company Triton will be investing to the tune of Rs 2,100 crore in Telangana. The manufacturing unit will come up at National Investment and Manufacturing Zone (NIMZ) at Zaheerabad, sangareddy.
In this regard, a memorandum of understanding has been signed with the company-Triton. The meeting in this connection was held at Pragathi Bhavan along with Minister KTR others also took part in the meeting.
KTR took to social media to announce the major investment. The unit will generate nearly 25,000 employment to the local youth. After mulling over different states, the company finalised Telangana owing to its friendly-policies.
The first five years will have Triton producing over 50,000 vehicles including sedans, luxury SUV’s, e-rickshaws, semi-trucks and other elective vehicles. KTR hailed the EV policy implemented by the state goverenet, who also added that the state could be a major puller for investment under the EV sector.
Delighted to announce that Triton EV – a leading US based Electric Vehicle company will be investing ₹ 2,100 Crores to establish an ultra-modern EV manufacturing unit at NIMZ, Zaheerabad in Sangareddy district
An MoU is signed between Triton EV & Govt of Telangana today pic.twitter.com/HeHG6wHdw3
— KTR (@KTRTRS) June 24, 2021