META4 to set up EV unit in Telangana

New Delhi: UAE-based business group META4 is setting up an electric two-wheeler manufacturing plant in Telangana. The company on Monday said it will invest Rs250 crore to establish the EV manufacturing facility and inked a pact with the Telangana state government in this regard.

The Telangana government will provide 15 acres of subsidised land to the company at Zaheerabad, Telangana. "With this investment, META4 intends to bring quality driven EVs to the Indian market in accordance with the FAME-2 approvals set by the Indian regulatory authority, and it will simultaneously enable space towards a strong economic drive in electric mobility," META4 Group CEO Muzammil Riyaz said in a release. META4 said it is making the investment through 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 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."