Biliti raises $150m to set up electric three-wheeler facility in Telangana

US-based Biliti Electric Inc said on Tuesday that it plans to invest $150 million (about Rs 1,144 crore) to set up a factory of electric three-wheelers with a production capacity of 2.5 lakh units. per year in Telangana.

The new plant is expected to generate $150 million in private investment and create more than 3,000 jobs in the state, in line with the state’s policy to become a global hub for electric vehicle (EV) manufacturing and energy storage, the California-based company said in a statement.

Biliti currently operates through an exclusive manufacturing partnership with Hyderabad-based Gayam Motor Works (GMW) to manufacture its three-wheelers.

The company’s Taskman is a popular last-mile delivery vehicle, which is deployed in 15 countries around the world, including Japan, the United States, the United Kingdom, France, Portugal, Germany, Lebanon, Uganda, Kenya, Senegal, Nepal, Bangladesh, Dubai and India.

Besides manufacturing units, Bilti has assembly plants in the United States, Portugal and Kenya.

Taskman is used by various companies like Amazon, Ikea, BigBasket, Zomato, Flipkart and Grofers, among others, he said.

“The Taskman has already completed over 12 million deliveries worldwide with many more to come. Our batteries and drivetrain are compact and modular in design, allowing them to have wider applications in the automotive, marine, warehousing and backup power, enabling the building of an ecosystem of electric vehicles,” noted Biliti Electric CEO Rahul Gayam.

The facilities will be built in two phases over an area of ​​200 acres.

The first phase will be developed on 13.5 acres with the capacity to produce 18,000 vehicles per year and is expected to be operational in early 2023. The larger facility spread over 200 acres will be operational in 2024 and will have the capacity to produce 2.4 lakh units per year.

The factories will produce all of Biliti’s products, including the Taskman cargo model and the Urban passenger version to serve customers in global markets, the company said.

Luxembourg-based GEM Global Yield LLC has committed $400 million to Biliti in the form of an equity subscription facility, positioning the company to accelerate growth, execute new strategic initiatives, acquire cutting-edge technology players and expand its manufacturing base to deliver on the company’s vision of accelerating the global transition to smart and sustainable mobility, he added.

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