Competitor of Tesla company by Elon Musk that is a US based electronic vehicle giant-Triton has signed up a Memorandum of Understanding (MoU) with the government mentioning of opening its state-of-art manufacturing company in Zahirabad area of state.
Triton EV’s managing director and chairperson Himanshu Patel claims that they have received almost $2.2 billion purchase order from India. Whereas, Telangana’s government alone has made the purchase order of around 3,000 EVs to Triton.
Triton EV and Telangana government said that Triton EV is planning to invest around $1.5 billion in the manufacturing facility that will be built over a million square fit area and is said to create 24,000 jobs
Telangana’s minister for municipal administration and urban development, industries and commerce and IT said in an occasion, that they are excited to know about Triton’s EV market and expertise. Industrial policy of the state which is proactively crafted towards fast process driven decision making and action towards bringing new investments in the state,” Kalvakuntla Taraka Rama Rao.
What will the manufacturing facility produce?
Will be manufacturing EVs not for only markets in India but also for Sri Lanka, Bangladesh, Nepal and entire Middle East region.
However, unlike Triton, Tesla will be focusing more on selling then manufacture in Indian market as the Indian government has been trying to attract Tesla company to manufacture in the country in order to give subsidies and other benefits
Notably, Tesla is all set for its entry, this year in India and set up a Research and Development unit in Bengaluru.
Importantly the Indian transport minister Nitin Gadkari in an interview said that India is ready to offer incentives to Tesla company to keep their manufacturing cost lower than China if the company is willing to manufacture EVs domestically.