META4 invests Rs 250 crore for green mobility in India

HYDERABAD: META4, United Arab Emirates based group, announced on June 13, that it will be investing in smart green mobility initiatives in India. The group will soon set up an Electric Vehicles manufacturing plant in Telangana and has already signed a MoU with the Government of Telangana for the same. The state government is set to provide 15 acres of subsidised land in the National Investment and Manufacturing Zone at Zaheerabad, Telangana.

META4 has made this investment through Voltly Energy, which provides advanced EV two-wheeler manufacturing and delivers energy efficient charging solutions for all electrified vehicles. META4 is set to invest Rs 250 crore in setting up of an electric two-wheeler manufacturing unit in Telangana. The company aims to make the plant functional by the end of this fiscal year, i.e March 2023.

Muzammil Riyaz, Group CEO, META4, said that with its investment with the Telangana government, META4 aims to bring quality driven EVs to the Indian market, which will be in accordance with the Fame2 approvals set by the Indian regulatory authority. It will simultaneously enable space towards a strong economic drive in electric mobility in India. He said that this collaboration will assist Voltly Energy in accelerating their vision of Make in India campaign.

The new manufacturing plant is expected to have major automation integration, including the latest semi-robotics and cutting-edge manufacturing machinery. The plant will help create nearly 500 direct and 2000 indirect jobs in the state. Voltly Energy is looking forward to manufacture at least 40,000 units in the first phase of the plant launch. The capacity then will be easily taken up to 100,000 within the next three years.