MT Autocraft is a supplier of machined parts and assemblies. It has announced the launch of MTA E-Mobility or MTA EV, its electric mobility company with a seed capital of Rs 100 crore.
Karan Sehgal (Co-founder, MTA EV) stated that the initial investment of Rs 100 crore. This will be funded by MT Autocraft and the Sehgal family as well as a few HNIs.
Vivek Jakhmola is the Co-founder. He was previously president of JBM Group. MTA EV is a fully electric mobility solution provider with a dedicated plant located on three acres in Palwal, the capital region.
The initial focus will be on the production of electric vehicles as well as key electrical systems. Jakhmola, who is already on a 50-member team said that the company plans on hiring 200 more people over the next twelve months.
He stated that the goal was to build a sustainable organization with a strong focus on technology via self-reliance and interdependence on foreign collaboration partners.
