META4, a business group based in the United Arab Emirates (UAE), recently announced that it will invest ₹250 crore to establish an electric two-wheeler manufacturing plant in Telangana. As part of the agreement, the Telangana government will provide the company with 15 acres of subsidized land in Zaheerabad, Telangana.
The company revealed that the investment is being made through Voltly Energy, a company that provides advanced EV two-wheeler manufacturing and energy-efficient EV charging solutions for all electrified vehicles. To produce cutting-edge products, the new manufacturing facility will have extensive automation integration, including the most advanced semi-robotics and manufacturing equipment. With an initial production capacity of 40,000 units, the manufacturing plant would help generate nearly 500 direct and 2,000 indirect jobs in the state.
“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,” said Muzammil Riyaz, CEO, META4 Group.
To this end, Aditya Reddy, Director, Voltly Energy, added, “We not only aim to serve our customers in India but also export vehicles to other global markets.”