National News

UAE’s META4 to invest ₹250 crore in new EV

By: helloscholar news team

Date:

The United Arab Emirates (UAE)-based META4 Group will be setting up an Electric Vehicles (EV) manufacturing plant with an investment of ₹250 crore in Zaheerabad, Telangana.

The Group signed a Memorandum of Understanding(MoU) with the Telangana government in this regard. As per the MoU, the Telangana government will provide 15 acres of subsidised land in the National Investment & Manufacturing Zone at Zaheerabad.

META4 has made this investment through Voltly Energy, which provides advanced EV 2-wheeler manufacturing and delivers energy-efficient EV charging solutions for all electrified vehicles.

The proposed plant is expected to be functional by the end of this fiscal year. Voltly Energy aims to manufacture at least 40,000 units in the first phase of the plant launch, and capacity will easily be taken up to 1,00,000 within the next three years. The new manufacturing plant will have major automation integration, including the latest semi-robotics and cutting-edge manufacturing machinery. The plant will help create nearly 500 direct and 2,000 indirect jobs in the State.

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