Electric vehicle maker Triton EV is in the process to acquire debt-ridden AMW Motors’ manufacturing plant in Bhuj for Rs 210 crore, according to sources.
The source told PTI on the sidelines of the Auto Expo 2023 that the National Company Law Tribunal, Ahmedabad bench has approved a resolution plan submitted by Triton Electric Vehicle LLC last month.
“Triton Electric Vehicle LLC has emerged as the successful bidder for plant and machinery, land and building etc of AMW Motors for Rs 210 crore. The resolution plan has been approved by NCLT, Ahmedabad bench on December 21, 2022,” the source said.
