Investment worth Rs 1,000 crore planned by River Mobility, to set new EV facility
Electric Vehicle (EV) maker River Mobility has plans to invest Rs 1,000 crore. The firm is planning to set up a manufacturing facility in Telangana to manufacture 5 lakh vehicles annually. River Mobility is in talks with the governments of Telangana, Tamil Nadu, Karnataka, and Andhra Pradesh to find suitable land for constructing the factory.
As per the firm they would need anywhere from 25 to 50 acres for a facility that can churn out half a million units per year. It has already invested approximately Rs 250 crore in its R&D facility and leased factory in Bengaluru.
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