- US-based Biliti Electric Inc. plans to invest $ 150 million to set up EV 3-wheeler plant in Telangana
- The new plant is expected to generate 150 150 million in private investment and create more than 3,000 jobs.
- Biliti is currently working with an exclusive production partnership with Hyderabad-based GMW.
US-based Biliti Electric Inc. on Tuesday said it plans to invest USD 150 million (approximately Rs 1,144 crore) to set up an electric three-wheeler plant in Telangana with a capacity of 2.5 lakh units per year.
The California-based firm said the new plant would run a private investment of 150 150 million and create more than 3,000 jobs in the state, in line with state policy to become a global hub for the production of electric vehicles (EVs) and energy savings. A statement
Biliti currently operates an exclusive manufacturing partnership with Hyderabad-based Gayam Motor Works (GMW) to manufacture its three-wheeler.
The company’s Taskman is a popular last-mile delivery vehicle, deployed in 15 countries around the world, including Japan, the United States, the United Kingdom, France, Portugal, Germany, Lebanon, Uganda, Kenya, Senegal, Nepal, Bangladesh, and Dubai. India.
In addition to manufacturing units, Bilti has assembly plants in the United States, Portugal and Kenya.
Taskman is using companies like Amazon, Ikea, BigBasket, Jomato, Flipkart and Grofers, it said.
“Taskman has already delivered more than 12 million deliveries worldwide and much more to come. Our batteries and drivetrains are compact and modular in design, enabling them to buildout a wide range of applications in the automotive, marine, warehousing and backup power sectors.” Mentioned 6
Facilities will be built in two steps across 200 acres of land. The first phase will be built on 13.5 acres of land with a capacity to produce 18,000 vehicles per year and is expected to be operational by early 2023. The larger facility, spread over 200 acres, will be operational in 2024 and will be able to produce 2.4 lakh units per year. .
The plants will produce all of Biliti’s products, including the cargo model Taskman and the passenger version Urban, to serve customers in the global market, the company said.
Luxembourg-based GEM Global Yield LLC has pledged USD 400 million to Biliti in the form of a share subscription facility to accelerate the company’s growth, implement new strategic initiatives, acquire state-of-the-art technology players and expand its production base for delivery. It adds to the company’s vision of accelerating the transformation of the world towards smart and sustainable mobility.
Also read | ‘Tulsi Bhai’: Prime Minister Modi names WHO chief Dr Tedros as new Gujarati – what happened here
Also read | Adani Group is committed to invest Rs 10,000 crore in Bengal
Latest business news