Electric vehicle sector thriving in Telangana 

Hyderabad: The electric vehicle sector in the state appears to be gaining steam as many EV companies are foraying into Telangana. In 2021-2022, five EV popular companies (with a total investment of Rs 5147 Crore) have signed agreements with the state government to set up their manufacturing units in the state. Thanks to Telangana’s ‘Electric […]

Hyderabad: The electric vehicle sector in the state appears to be gaining steam as many EV companies are foraying into Telangana. In 2021-2022, five EV popular companies (with a total investment of Rs 5147 Crore) have signed agreements with the state government to set up their manufacturing units in the state.

Thanks to Telangana’s ‘Electric vehicle and Energy Storage policy’ for creating a friendly environment for EV companies, regardless of size to look towards the state and thrive.

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The EV policy was initiated to provide a fillip to the electric vehicle ecosystem in the state, i.e., to promote the usage of electric vehicles and set up infrastructure. 

Petrol prices and climate issues are pushing up demand for electric vehicles across the globe and to catch the demand, the government is leaving no stone unturned to make Telangana a hub for the manufacturing of electric vehicles.

Under the policy, the state government is providing subsidies, incentives, and support for infrastructure and manufacturing. It includes offering special power tariffs for the sector, tax & registration fee exemption on electric vehicles to a certain extent, discounted interest rates, and encouraging the state transport department to opt for electric buses.

The Telangana State Renewable Energy Development Corporation Ltd (TSREDCO) is setting up charging centers and battery stations across the state. It had already established 110 charging stations to date, and will further increase the network as per the need and demand.

Here’s the List of popular EV companies that have come to Telangana in 2021-2022

 

Triton Electric: US-based company Triton Electric signed an MoU with the state government to set up an electric vehicle manufacturing unit with an investment of 2100 Crore at the National Investment and Manufacturing Zone (NIMZ), Zaheerabad. The facility will be used to manufacture electric sedans, trucks, and SUVs, while generating employment for over 2000 people.

Liteauto GmbH: Germany-based company Liteauto GmbH, known for the production of magnesium-based alloy components for the automotive industry, will invest Rs 1,500 crore in the state to set up a state-of-the-art manufacturing facility, with the potential to create over 9000 direct and indirect employment in the state.

Gravton Motors: EV maker Gravton Motors, which developed an electric bike under the brand name Quanta, is planning to come up with a Greenfield unit with an investment of Rs. 150 crore by the year-end of this year. The Hyderabad-based EV Company said it would employ about 3,000 people in the next two years.

One Moto India: Another EV brand, One Moto India is also planning to set up a manufacturing unit in Zaheerabad. The British mobility company signed an MoU with the state government to invest Rs 250 crore. It will provide 500 direct and 2000 indirect jobs in the state. 

Biliti Electric:  The California-based entity will set up its factory in Telangana in partnership with Hyderabad-based Gayam Motors,  The deal between these two companies will pump a whopping Rs 1147 crore investment into the state.