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Tesla's rival Triton to invest Rs 2,100 cr, create 25,000 jobs in Telangana


Tesla s rival Triton to invest Rs 2,100 cr, create 25,000 jobs in Telangana
Required land for project will be provided through TSIIC. Facility will not only produce Triton EVs for Indian market, but also for Bangladesh, Sri Lanka, Nepal and Middle East regions as well
Triton EV is based in New Jersey, US, and is a subsidiary of Triton Solar, which is into solar panels and battery engineering
BusinessToday.In
Updated Jun 26, 2021, 12:04 PM IST
US-based electric vehicles (EV) giant Triton, a major rival of Elon Musk-led Tesla, has entered into a memorandum of understanding (MoU) with the Telangana government to establish a manufacturing facility in the state s Sangareddy district.  The company will set up the unit at the National Investment and Manufacturing Zone (NIMZ), Zaheerabad, with an investment of Rs 2,100 crore. ....

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Triton EV will be investing Rs 2,100 crore in setting up its manufacturing facility in Telangana's Zaheerabad as it has signed a MoU with the state government.


by Bhaswati Guha Majumder - Jun 25, 2021 09:34 AM
Officials of the company and state government signing an MoU (Twitter)
Snapshot
The US-based electric vehicle manufacturer Triton will invest Rs 2,100 crore in Telangana for the new establishment.
The project would lead to the production of over 50,000 vehicles over the first five years, and it will include semi-trucks, sedans, luxury SUVs and electronic rickshaws, says Telangana IT and Industries Minister KT Rama Rao.
The United States-based electric vehicle manufacturer Triton, which competes with Elon Musk s Tesla, has entered into a Memorandum of Understanding (MoU) with the Telangana government to set up a manufacturing unit in Zaheerabad, which has Mahindra & Mahindra s largest tractor manufacturing facility, in Sangareddy district. ....

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