Investments & Funding

Biliti Electric invests Rs 400cr in new manufacturing plant

Date: March 12, 2024.Biliti Electric, an electric mobility company which manufactures electric three-wheeler vehicles and  develops innovative battery swapping networks for efficient commercial EV operation, has recently initiated the construction of a new manufacturing facility in Velimela, Hyderabad. The company is investing Rs 400 crore ($ 5.6 billion) in this project, which marks a significant development in the electric vehicle (EV) and battery manufacturing sector in India.

The new plant is estimated to have a phase-1 capacity of over 2,000 electric three-wheelers (E3W) each month, creating approximately 10,000 job possibilities. This investment supports Biliti Electric’s ambition of becoming a major participant in the global EV industry and becoming a hub for sustainable last-mile transportation solutions.

Jennifer Larson, the US consul general in Hyderabad, emphasized the significance of this project in fostering commercial relations between the US and India during the event. She also conveyed her happiness at Biliti’s recent commercial alliances with well-known US firms like FreshDirect and GoBolt.

Raja Gayam, CEO of Biliti Electric, said the ceremony represents a turning point in the company’s history as it sets out to transform last-mile transportation across the globe. The company has already deployed its vehicles and batteries across 15 nations and five continents. Moreover, it specializes in building a scalable battery swapping network for urban mobility and energy storage.

Biliti Electric’s expansion into India highlights the increasing interest from global EV players in the country’s booming electric vehicle market. The Indian government’s push for electric mobility solutions to tackle pollution and promote sustainable transportation is a major driver behind this interest.

This investment is a testament to the growing importance of EVs and the commitment to sustainable transportation solutions in India and around the world.

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