US Based EV Company To Invest Rs 2,100 Crores In Telangana, Signs MoU With TRS Government

A company named Triton, based in the United States of America (U.S.A.,) is going to invest in Telangana.

Triton, a United States based electric vehicle company is set to invest a huge amount of Rs. 2,100 crores in Telangana.

The Triton Manufacturing Unit would be established at National Investment and Manufacturing Zone (NIMZ) at Zaheerabad, Sangareddy, Telangana.

In this regard, the company officials signed a memorandum of understanding (MoU) with the Telangana Rashtra Samithi (TRS) Government at Pragati Bhavan, Hyderabad. K.T. Rama Rao, the Information Technology (IT) and Municipal Administration and Urban Development Minister of Telangana, signed the MoU and held a meeting.

Speaking about the manufacturing, in the first five years, Triton would be producing over 50,000 vehicles including sedans, luxury SUVs, e rickshaws, semi trucks and other electric vehicles.

Later, KTR took to Twitter and made an official announcement regarding the signed partnership and the huge investment.

Mr. Rama Rao in a tweet said, "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."

The new establishment in Telangana would generate jobs for 25,000 local youth.