Kutch: The US-based Triton Electric Vehicles signed a memorandum of understanding (MoU) with the Gujarat government on Tuesday for investing Rs 10,800 crore in setting up an electric commercial vehicle production plant in Kutch district.
The company will initially invest Rs 1,200 crore during the financial year 2022-23 for setting up the facility on a 645-acre plot in Bhuj. The unit will have the capacity to produce 50,000 trucks annually.
The state government will assist in providing necessary approvals and registration process for the establishment of this plant in accordance with the existing policy, it said. The company’s total investment will be Rs 10,800 crore. The plant will create direct and indirect employment opportunities to about 10,000 people, the statement said.
The company will also set up in-house facilities like robotic paint shop, chassis sub-assembly and quality assurance and material testing lab.
The agreement was signed between Rajiv Kumar Gupta, Additional Chief Secretary of Industries and Mines Department, on behalf of the Gujarat government and Himanshu Patel, founder and CEO of Triton Electric Vehicle, in the presence of the chief minister in Gandhinagar.
The company manufactures electric semi trucks, SUVs, electric sedans, defense EVs and e-rickshaws in the US, the release said.