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US-based Ability Electric Inc on Tuesday said it plans to invest USD 150 million (about Rs 1,144 crore) to set up an electric three-wheeler plant with a production capacity of 2.5 lakh units per annum in Telangana. has been
The new plant is projected to spur private investment of $150 million and create more than 3,000 jobs in the state, the California-based company said, in a bid to become a global hub for electric vehicle (EV) and energy storage manufacturing. in line with the policy. a statement.
Viability currently operates through an exclusive manufacturing partnership with Hyderabad-based Gayam Motor Works (GMW) to manufacture its three-wheelers.
The company’s Taskman is a popular last mile delivery vehicle, which is deployed in 15 countries across the world including Japan, USA, UK, France, Portugal, Germany, Lebanon, Uganda, Kenya, Senegal, Nepal, Bangladesh, Dubai among others. India.
In addition to manufacturing units, Bilti has assembly plants in the US, Portugal and Kenya.
Taskman is being used by many companies like Amazon, Ikea, BigBasket, Zomato, Flipkart and Grofers.
“Taskman has already made over 12 million deliveries worldwide and many more are to come. Our batteries and drivetrains are compact and modular in design, allowing them to find wide applications in the auto, marine, warehousing and backup power sectors. This enables the buildout of an EV ecosystem,” said Rahul Gayam, CEO, Ability Electric.
The facilities will be constructed over an area of 200 acres in two phases. The first phase will be developed on 13.5 acres with a production capacity of 18,000 vehicles per year and is expected to be commissioned by early 2023. The large facility, spread over 200 acres, will become operational in 2024 and will have a capacity to produce 2.4 lakh units per year. ,
The company said the plants will produce all of Ability’s products, including the cargo model Taskman and the passenger version Urban, to serve customers in global markets.
Luxembourg-based GeM Global Yield LLC has committed US$400 million to Viability in the form of a share membership facility, allowing the company to accelerate its growth, execute new strategic initiatives, acquire and distribute state-of-the-art technology players. Well positioned to expand its manufacturing base. On the company’s vision of accelerating the world’s transition towards smart and sustainable mobility, it added.
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