Telangana signed MoU with EV manufacturers ETO Motors, Olectra, Mytrah Energy to set up EV manufacturing units in State
ETO Motors announced that it has signed a Memorandum of Understanding with the Government of Telangana to set up a greenfield manufacturing facility in the state for its range of electric three-wheelers. The facility will be set up under its subsidiary Keto Motors with an investment of INR 150 Crores over the next 5 years. This initiative will create 1,500 people employment opportunity.
Telangana signed MoU with EV manufacturers
This project’s products include electric three-wheelers passengers and cargo segment. Its vehicles are equipped with high-quality suspension and the largest tyres in the three-wheeler segment that provides a smooth riding experience. It will have greater stability and legroom. The vehicles are powered by AC-induction motor and come with lithium-ion batteries.
It provides a range of up to 120 KM in a single charge. The vehicles are highly robust as it comes with ABS panels and aluminium chassis.
Speaking on the development, Mr NK Rawal, Managing Director, ETO Motors said, “The new EV policy of Telangana Government is aimed to create a sustainable ecosystem for EVs in the state including manufacturing, design, and adoption. It also comes at the right time when the EV segment is poised to grow at a significant rate considering the demand from the booming e-commerce side apart from policy push from the central government,”
“The tail-wind being created from the demand and policy perspective makes us bullish for the electric vehicle segment. The new plant will help us cater to the increasing interest we are witnessing from the e-commerce and 3rd party logistics players in our products that are not only equipped to handle the decent load but are also capable to run in diverse terrains.”
The other unique features that ETO has introduced is the seatbelts for driver and passengers for safety purposes. It is having a capacity to carry 3 passengers plus driver and its cargo version can carry a cargo load of over 500 Kg. It has a regenerative braking system.
Telangana govt signed MoU with Olectra & Mytrah Energy
Apart from ETO Motors, the government of Telangana has signed MoUs with electric bus manufacturers Olectra and Mytrah Energy to set up electric vehicles manufacturing units in the State. It has signed an MoU with Automotive Research Association of India (ARAI) for collaborative efforts in the research and development to aid in the manufacture of EVs.
Mytrah Energy signed an MoU and will invest Rs 2,000 crore which generates 6,750 people job opportunities. Olectra signed an MoU committing to an investment of Rs 300 crore and generating employment of 3,500 people. While Gayam Auto Works has announced their plans to invest Rs 250 crore in the State generating 1,400 jobs. PUR Energy, the IIT-Hyderabad incubated startup announced plans to invest Rs 500 crore in the State generating 1,500 jobs.
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