India’s ETO Motors inks MoU with Telangana government for electric vehicles
India’s ETO Motors has inked a memorandum of understanding (MoU) with the Telangana government for the establishment of manufacturing facility for its range of electric vehicles. The plant will be built under its subsidiary Keto Motors with an investment of INR150 crore.
NK Rawal, Managing Director, ETO Motors, said, “The new EV policy of Telangana Government is aimed to create a sustainable ecosystem for EVs in the State including manufacturing, design, and adoption. The tail-wind from the demand and policy perspective makes us bullish for the electric vehicle segment. The new plant will help us cater to the increasing interest we are witnessing from the e-commerce and 3rd party logistics players in our products that are not only equipped to handle the decent load but are also capable to run in diverse terrains.”
The new facility will also create employment opportunities for over 1,500 people. The company utilizes lithium-ion batteries and aluminium in chassis in its electric three-wheelers.
The product that ETO Motors offers are ergonomically designed zero-emission electric three-wheelers in passenger as well as in the cargo segment.
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