Liteauto GmbH, a German company, will invest Rs 1,500 crore in Telangana to establish Liteauto Components, an innovative design and manufacturing plant.
The factory, which will cover 100 acres, will produce magnesium materials for automobiles, commercial vehicles, and two-wheelers with both conventional and electric engines. It is expected to generate approximately 9,000 direct jobs and an additional 18,000 indirect jobs in the state.
In the presence of Telangana IT & Industries Minister KT Rama Rao and German Ambassador to India Walter J Lindner, Liteauto GmbH and the Telangana government signed an MoU on Monday during a German investors’ summit.
