META4, a business located in the United Arab Emirates, has announced plans to spend Rs 250 crore in Telangana to build an electric two-wheeler manufacturing unit.
Nearly 500 direct and 2,000 indirect employment will be created in the state as a result of the factory.
According to the corporation, the Telangana government would grant 15 acres of subsidised land in the national investment and industrial zone at Zaheerabad.
By the end of FY 2022-23, the EV 2-Wheeler unit should be ready.
“With this investment with the Telangana government, META4 intends to bring quality driven EVs to the Indian market in accordance with the ‘Fame2’ approvals set by the Indian regulatory authority,” said Muzammil Riyaz, Group CEO, META4.
