UAE-based Meta4 to invest Rs 250 crore for electric two-wheeler wheeler plant in India
The United Arab Emirates-based company META4 on Monday announced to invest Rs 250 crore to set up an electric two-wheeler manufacturing plant in Telangana.
The plant will help create nearly 500 direct and 2,000 indirect jobs in the state.
The Telangana government will provide 15 acres of subsidised land in the national investment and manufacturing zone at Zaheerabad, the company said in a statement.
The EV 2-Wheeler unit is expected to be ready by the end of FY 2022-23.
“With this investment with the Telangana government, Meta4 intends to bring quality driven EVs to the Indian market in accordance with the ‘Fame2’ approvals set by the Indian regulatory authority,” said Muzammil Riyaz, Group CEO, Meta4.
