April 5 US-headquartered Triton Electric Vehicle on Tuesday signed a memorandum of understanding (MoU) with the government of Gujarat to set up an electric commercial vehicle production plant at Kutch-Bhuj in Gujarat.
The plant will be set up with a total investment of ₹10,800 crore. The company said it will invest about ₹1,200 crore in FY23.
The plant will generate about 10,000 direct and indirect employment opportunities in the State. The MoU was signed by Rajiv Kumar Gupta, Additional Chief Secretary – Industries Department, Gujarat, and Himanshu Patel, Founder and CEO of Triton Electric Vehicle.
The proposed plant will be spread across 645 acres with production capacity at 50,000 trucks annually. The plant will also have in-house facilities like chassis and cabin, robotic paint shop, chassis sub assembly and quality assurance and material testing lab.
Triton Electric Vehicle specialises in the production of lithium battery cells and electric vehicle controllers. Triton manufactures electric semitrucks, SUVs, electric sedans, defence electric vehicles and electric rickshaws in the USA.
A Gujarat government communique stated that the State government will assist in the necessary permits, approvals and registration procedures for the establishment of the plant in accordance with existing policy rules.