US-based Triton Electric Vehicle LLC on Thursday said it has registered a subsidiary in India as part of setting up a business in the country. New Jersey-headquartered Triton Electric Vehicle LLC has registered the unit by the name of Triton Electric Vehicles India Pvt Ltd.
The newly formed entity will work towards building the country as one of the biggest markets for Triton EV outside the US, the company said in a statement.
Without sharing details about the investment or location, the company said its manufacturing facility in the country would cater to the Indian market and other countries such as Bangladesh, Sri Lanka, Nepal, the Middle East region and Africa.
The company further claimed that around 21,000 people will be employed through its manufacturing plant over the next three years.
“We are considering India’s entry very critical and important for the company as well as for the entire industry. EV has a very strong future for Indian roads as well as for many parts of the world. The government authorities are also working very seriously in pushing the culture of EVs in India,” Triton EV founder and CEO Himanshu B Patel said.
The company is committed to producing best in class EVs for India, he added.
“We expect a substantial amount of export revenue from this manufacturing set up. We aim to cater to the needs of many countries for electric vehicles from the Indian manufacturing base,” Patel said.
The company’s manufacturing facility will not only be an assembly line for the cars, but also produce EV components, he added.
Triton Electric Vehicle is a subsidiary of Cherry Hill (New Jersey) based Triton Solar, a leader in solar panel and battery engineering.