Goldstone Infratech Ltd, is planning to set up a greenfield electric bus manufacturing facility in the south with an investment of Rs 500 crore.
The Hyderabad-based insulator maker, which has diversified into the electric vehicles (EV) business, expects the greenfield plant to be set up by mid-2018 in Telangana or any neighbouring state.
Quoting N K Rawal, managing director, Goldstone Infratech, a report in The Hindu said, wWe are already manufacturing electric buses in India. Now, we plan to make investments in expanding our manufacturing facility. For now, we have earmarked Rs 500 crore, which may be scaled up or down depending on demand.”
At present, the company is assembling fully electric buses in India in technical collaboration with BYD of China, the biggest EV manufacturer in the world.
Image Credit : thehindu.com