7.7 C
London
Monday, November 28, 2022

MT Autocraft is investigating EVs with Rs 100 cr financing, to employ 200 people

Must read

The 28 best early Cyber ​​Monday 2022 deals under $50

With all the deals, discounts and promotions going around, it can be very tempting to spend a coin during Black Friday and Cyber ​​Monday....

The App Store’s Top Scanner app is over 80% off today only

Opinions expressed by londonbusinessblog.com contributors are their own. As hybrid and remote working become entrenched across the globe, entrepreneurs must prepare for the digital workplace....

Taryn Hatcher- Wiki, age, height, net worth, boyfriend, ethnicity

Taryn Hatcher is a well-known sportswriter in the United States. Hatcher is known for his work as a sports anchor for NBC News...

Lawyers see crypto regulation coming in 2023 as industry needs to restore confidence • londonbusinessblog.com

Despite an uneven years in the crypto markets, many market participants are unperturbed about the long-term health of the sector, saying legal frameworks could...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

MT Autocraft, a leading supplier of machined components and assemblies, announced the launch of an electric mobility company on Wednesday MTA E-Mobility Pvt Ltd (MTA EV) with a seed funding of Rs 100 crore.



The electric mobility startup, which plans to hire an additional 200 people, has built a dedicated factory spanning three hectares in Palwal in the national capital.

The company said it aims to become a complete provider of electric mobility solutions.

“We have planned an initial investment of Rs 100 crore, which will be funded by MT Autocraftthe Sehgal family and a few high net worth individuals (HNIs),” said Karan Sehgal, co-founder of MTA EV.

vivek yakhmolaan industry veteran and former president of JBM Group, has joined as a co-founder of the newly formed MTA EV.

Jakhmola was also a director of several companies in the Lumax Group and brings more than 25 years of experience.

The company plans to hire an additional 200 people over the next 12 months.

“We strive for a sustainable organization with a sharp focus on technology through self-reliance and interdependence of our foreign cooperation partners. We are already a 50-plus strong team in R&D and market research. The team size will increase to 200 plus in the next 12 months, said Yakhmola.

The company will showcase its products and technology at the upcoming ‘Auto Expo 2023’.

The MTA EV plant has in-house facilities for assembly, end-of-line vehicle inspection, production monitoring, paint shop, chassis fabrication and surface coating.

ALSO SEE:

Pet-care startup Supertails.com raises $10M in Series A funding


Archean Chemical Industries IPO Registered 30% on Day 1

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

The 28 best early Cyber ​​Monday 2022 deals under $50

With all the deals, discounts and promotions going around, it can be very tempting to spend a coin during Black Friday and Cyber ​​Monday....

The App Store’s Top Scanner app is over 80% off today only

Opinions expressed by londonbusinessblog.com contributors are their own. As hybrid and remote working become entrenched across the globe, entrepreneurs must prepare for the digital workplace....

Taryn Hatcher- Wiki, age, height, net worth, boyfriend, ethnicity

Taryn Hatcher is a well-known sportswriter in the United States. Hatcher is known for his work as a sports anchor for NBC News...

Lawyers see crypto regulation coming in 2023 as industry needs to restore confidence • londonbusinessblog.com

Despite an uneven years in the crypto markets, many market participants are unperturbed about the long-term health of the sector, saying legal frameworks could...

Today I learned that LG makes a space-saving cabinet monitor

Desk space is quite limited when you work in a cubicle, but LG's 27-inch Libero monitor could help you free up some more space....