Ahmedabad (Gujarat) [India], April 6 (ANI/BusinessWire India): In a landmark development of taking the Indian EV Journey to a global leadership position, Triton EV has signed an MoU with the Gujarat State Government for setting up the world's iconic EV Truck Manufacturing Plant with a minimum investment commitment of Rs 10 Thousand Eight Hundred Crore over a span of 5 years.
The Triton EV Truck Manufacturing facility in Gujarat will have end-to-end and integrated EV Truck Manufacturing and will be a state-of-the-art example of a 'Make in India' product.
The factory will be spread across 2000 Acres of Land and will be manufacturing over 98% of the entire Triton EV Semi Truck from the faculty itself. This factory of Triton EV will set an example of a complete Make in India EV product by curbing the import dependency.
On the occasion of the signing of MoU, Hon'ble Chief Minister of Gujarat State, Bhupendrabhai Patel and Mr Himanshu B Patel, Founder and MD of Triton EV along with Rajiv Gupta, Chief Secretary Government of Gujarat were present at the signing of MoU at the Gujarat State Government Secretariat, Ahmedabad.
While welcoming Triton EV to his state, Bhupendrabhai Patel mentioned, "India is undoubtedly becoming a world leader in multiple areas. EV is one of them and with such investment from Triton EV we are excited to look at the journey ahead. This manufacturing plant will not only create jobs but will also become a major driver of India's exports output. Gujarat as a state is known for its entrepreneurial commitments over the last few decades and Gujarat is known for its economic success stories. This (Triton EV) will be the next level of our success stories."
"This is a very important milestone for us as well as for the Indian EV Manufacturing space. We are extremely excited to sign this MoU with the Gujarat Government as we are all set to build a great Integrated manufacturing ecosystem for EVs which will be known as the world's finest EV manufacturing hub. This eventually will also be the world's leading and Asia's biggest hub in its own category. We are thankful to the Hon'ble Chief Minister of Gujarat for believing in our vision and plan.
The EV Manufacturing hub in Gujarat will generate employment for over 10 thousand people in the next 5 years," informs Himanshu B Patel, Founder & MD of Triton EV.
The Triton EV Manufacturing hub or the mega EV campus in Gujarat will have investments through five major organizations:
Triton Electric Vehicle LLC (TEVL) (The New Jersey, USA headquartered parent organization of Triton EV India)
Triton Electric Vehicle India Pvt Ltd. - fully owned subsidiary of TEVL
Bharat Electronics Limited (BEL) - This will be responsible for the manufacturing of batteries for EVs.
Triton EV Technologies India Pvt Ltd - Through this, circuit board manufacturing will be taken care of.
Kaynes Technology India Ltd.- will manufacture semiconductors for the EVs
Triton Testing & Homologation India Pvt. Ltd - This entity will take care of testing and homologation services for the EVs
Horizon Microtech Pvt. Ltd. - for the wire harness solutions offered for the EVs.
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