UAE-based META4 Group To Invest INR 250 Crore For EV Two-wheeler Plant In Telangana
The group has set up Volty Energy, which will be setting up a manufacturing plant at Zaheerabad, Telangana, by the end of this year
UAE-based group META4 announced its foray into the growing Indian EV ecosystem. The group has launched 'Volty Energy', an EV production company, which would set up operations in Telangana and through which the UAE group will be investing in smart green mobility initiatives in India. META4 will set up an electric vehicles manufacturing plant in Telangana, for which it has signed a MoU with the government of Telangana. As per the MoU, the state government will provide 15 acres of subsidized land in the National Investment & Manufacturing Zone at Zaheerabad, Telangana.
META4 is a holding company consisting of multiple companies based in the Middle East such as Centre Systems Group, Westend Arabia, MintZy, CoinCult and Ellysium Automotives. This is the group's first foray into the EV business.
Voltly Energy will provide advanced EV two-wheeler manufacturing and energy-efficient EV charging solutions for all such vehicles. The company aims to make the plant functional by the end of this fiscal year and manufacture at least 40,000 units in the first phase of the plant launch. They plan to increase the production capacity of the plant to 100,000 within the next three years. The manufacturing plant will have major automation integration, including latest semi-robotics and manufacturing machinery. Volty Energy projects to employee about 2500 people, with 500 direct employments and 2000 indirect employments.
At the time of signing, Aditya Reddy, Director, Voltly Energy, announced that the city of Hyderabad will be the manufacturing location for the company, given that it is a major tech hub in India. "To cater to the growing EV market in India, we not only aim to serve our customers in India but also export vehicles to other global markets. We also intend to collaborate with the state to establish skill development programs, as EV after-sales service requires a specialised skill set," he said.
Management team of Volty Energy signed the MoU in the presence of Telangana State's IT and Industries Minister KT Rama Rao and Mr. Jayesh Ranjan, Principal Secretary, Industries & Commerce I&C and Information Technology – Government of Telangana.
KT Rama Rao, Minister for Municipal Administration & Urban Development, Industries & Commerce, and Information Technology, said, "Entire nation is working hard towards achieving the e-Mobility mission. Amidst this revolution, we are happy that the state is fast transforming into a favourite destination for the electronic vehicle manufacturing sector. We are committed to provide all support to Voltly Energy to acquire the necessary approvals for setting up their facility and assured the firm of providing several incentives applicable for a megaproject under the TSIIC guidelines."