Karnataka’s state government has announced a revision to its current electric vehicle production policy in a bid to draw more EV production investment in the state.
As part of its goal to participate in and increase its stake in the global EV supply chain they will establish an EV cluster spanning 500 acres in Ramanagara, about 40 km west of Bengaluru, on the way to Mysuru.
Chief Minister B.S. Yediyurappa has assured state support to Triton, a US-based EV manufacturer, that has explored the possibility of setting up a production plant in Karnataka. The chief minister discussed various incentives in a video conference with Himanshu Patel, the chief executive of Triton.
Triton is not new to India having already established a production facility in Pune, Maharashtra. The company has also signed a MOU with Maharashtra’s government to set up an additional facility in Navi Mumbai. The company plans to make a total investment of $1 billion in India. The company is expected to launch its N4 sedan at a price level of around INR 35 lakhs ex-works in India, with an initial production run of 1,000 cars to be delivered in 6-8 months.
The company will source its accessories in India and is in discussions with Bharat Electronic Limited (BEL) and other private entities to set up its recharging infrastructure.