Triton Electric Vehicles, located in the United States, inked a memorandum of understanding (MoU) with the Gujarat government, agreeing to spend Rs 10,800 crore in the Kutch area to build an electric commercial vehicle manufacturing unit.
During the financial year 2022-23, the business would invest Rs 1,200 crore to build the plant on a 645-acre land near Bhuj. The plant will be able to produce 50,000 trucks each year.
The deal was signed in Gandhinagar in the presence of Gujarat Chief Minister Bhupendra Patel, according to a statement released by the Gujarat government. The MoU was signed by Himanshu Patel, the company’s founder and CEO, and Dr Rajiv Gupta, the additional chief secretary (industries and mines department).
