US company to install world’s largest electric 3-wheeler factory in TS
Telangana is set to host the world’s largest electric three-wheeler factory, with California-based Biliti Electric Inc announcing plans on Tuesday to set up a factory, in phases, to produce 2.40 lakh electric vehicles a year in the region. ‘State.
It will be the largest electric three-wheeler factory in the world and is expected to generate private investment of $150 million and is expected to create more than 3,000 jobs in the state, said Biliti, which has an exclusive manufacturing partnership with Gayam. Motor Works, based in Hyderabad, for its three-wheelers.
The plant will be built in two phases, on 200 acres. Phase I is to be developed on 13.5 acres with a capacity to produce 18,000 vehicles per year. It is expected to be ready in early 2023. The largest facility spread over 200 acres will be operational in 2024 and the capacity will increase to 2.4 lakh vehicles.
All of Biliti’s products, including the Taskman cargo model and the Urban passenger version, are offered for manufacture at the Telangana plant for customers in global markets. Biliti said its proposal is in line with Telangana’s drive to become a global hub for manufacturing electric vehicles and energy storage.
Industry and IT Minister KT Rama Rao said, “When we launched the EV policy two years ago, it was with a mission to make Telangana a preferred destination for place in the manufacture of electric vehicles. Now we see that becoming a reality with companies like Biliti establishing the world’s largest three-wheeler factory here.
It is the biggest investment in electric vehicle manufacturing announced this year in the state and it closely follows another California company, Fisker, which plans to set up its second headquarters in Hyderabad. The state is committed to promoting clean industries and promises to extend all eligible benefits under government policy to the business, he said.
Biliti said its Taskman EV is a popular last-mile delivery vehicle that is deployed in 15 countries, including Japan, the United States, the United Kingdom, France, Portugal, Germany, Lebanon, Uganda, Kenya, Senegal, Nepal, Bangladesh, Dubai and India. He has traveled over 20 million miles.
“We are proud to manufacture our exciting range of electric vehicles in Telangana,” said Biliti Electric CEO Rahul Gayam. Luxembourg-based GEM Global Yield LLC has committed $400 million to Biliti in the form of an equity facility, the company said.