Back in October 2020, the Telangana government rolled out Electric Vehicle and Energy Storage (EV&ES) policy to encourage the use of electric vehicles in the state which can also combat the pollution.
As part of their policy, the Telangana government has approved the investment of Triton which is a rival of American electric vehicle and clean energy company, Tesla. Triton would be investing Rs 21,000 crore and through its investment, it would be creating 24,000 jobs in Telangana and indirect employment to the local youth.
“Delighted to announce that Triton EV – a leading US based Electric Vehicle company will be investing ₹ 2,100 Crores to establish an ultra-modern EV manufacturing unit at NIMZ, Zaheerabad in Sangareddy district. An MoU is signed between Triton EV & Govt of Telangana today. This investment will create employment opportunities for about 25,000 local youth,” tweeted KTR upon signing the MoU with Triton.
Further the IT minister added that Triton EV will produce more than 50,000 vehicles over the first five years, including semi-trucks, sedans, luxury SUVs and rickshaws.
Triton is yet to make news with its productions and if their products are rolled out, Telangana might be the first statement that can see electric vehicles on Hyderabad roads.
Also with the EV&ES Policy, the Telangana government has a target of US 4 billion investment and 1.2 Lakh jobs.
This post was last modified on 25 June 2021 11:01 am
Spider-Man: Brand New Day is one of Hollywood's upcoming films, and the makers have already…
The split in the Kalvakuntla family has resulted in Kavita, launching her own political outfit…
In a major diplomatic breakthrough and also what could be a big relief after three…
The upcoming film Transfer Trimurthulu marks the directorial debut of Kamal Teja Narla, and actor-producer…
The buzz around OG 2 has suddenly reached another level. Soon after Pawan Kalyan's production…
As Mumbai grapples with intense heat and recurring power cuts, residents of slum settlements near…