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META4 Group, A UAE-based company will invest around Rs 250 crore through Voltly Energy for setting up an electric two-wheeler manufacturing unit in Telangana.
The company signed an agreement with the Telangana government to purchase 15 acres of the land which is subsidised. The land is situated in the National Investment & Manufacturing Zone at Zaheerabad.
Voltly Energy provides solutions for delivering energy-efficient electric vehicle (EV) charging solutions and electric two-wheeler manufacturing solutions across segments.
In the presence of KT Rama Rao, IT and Industries Minister of Telangana and Principal Secretary of Telangana’s Industries & Commerce I&C and Information Technology, Jayesh Ranjan the agreement was signed with the Voltly Energy’s management team.
The manufacturing plant will be functional by the end of the current fiscal year and it will manufacture 40,000 units during the first phase after the launch of the facility and later on increase the manufacturing to 100,000 units in the coming 3 years.
Muzammil Riyaz, Group CEO, META4 said, “With this investment with the Telangana government, META4 intends to bring quality-driven EVs to the Indian market in accordance with the FAME II approvals set by the Indian regulatory authority, and it will simultaneously enable space towards a strong economic drive in electric mobility. This collaboration will hopefully pave the way for Voltly Energy to accelerate their vision of Make-in-India campaign and establish their identity as a purely Indian entity.”
The plant will have cutting-edge manufacturing machinery and semi-robotics and will create around 2,000 indirect jobs and 500 direct jobs in Telangana.
Rama Rao, affirmed “Entire nation is working hard towards achieving the e-mobility mission. Amidst this revolution, we are happy that the state is fast transforming into a favourite destination for the electronic vehicle manufacturing sector. We are glad that META4 chose Telangana as their hub, and we believe that with their commitments for smart mobility they will be a big contributor for the EV revolution in the country. We are committed to provide all support to Voltly Energy to acquire the necessary approvals for setting up their facility and assured the firm of providing several incentives applicable for a megaproject under the TSIIC guidelines.”
Aditya Reddy, Director, Voltly Energy said, “To cater to the growing EV market in India, we are happy to choose Hyderabad as our manufacturing location as being a Tech city this always brings new technology and innovation to the Indian consumer. To cater to the growing EV market in India, we not only aim to serve our customers in India but also export vehicles to other global markets. We also intend to collaborate with the state to establish skill development programs, as EV aftersales service requires a specialised skill set.”
Voltly Energy will also manufacture charging stations and batteries, hence a 360-degree ecosystem for sustainability.