META4 will make an investment of Rs 250 crore to set up an electric two-wheeler manufacturing plant in the state of Telangana.
The plant will create around 500 direct and 2,000 indirect jobs in the state.
The state government will provide 15 acre of land parcel of subsidised land in the national investment and manufacturing zone at Zaheerabad.
The unit is expected to be ready by the end of FY23. META4 has made the investment through Voltly Energy, which provides advanced EV 2-wheeler manufacturing and delivers energy-efficient EV charging solutions for all electrified vehicles.
Voltly Energy aims to manufacture at least 40,000 units in the first phase of the plant launch, and increase the capacity to 1,00,000 within the next three years.
The new manufacturing plant will have automation integration, including the latest semi-robotics and cutting-edge manufacturing machinery.