MT Autocraft, a supplier of machined components and assemblies, announced the launch of electric mobility company MTA E-Mobility (MTA EV) with seedfunding of Rs 100 crore. The electric mobility startup has already built a dedicated plant spread over three acres at Palwal in the national capital region.
It aims to become a complete electric mobility solutions provider. However, the initial focus will be on manufacturing electric vehicles and key electrical systems and enabling faster adoption of electric mobility.
Vivek Jakhmola, an industry veteran and former president at JBM Group has joined hands as Co-founder of the newly formed MTA EV. Vivek was also Director at multiple companies in Lumax Group and brings along over 25 years of experience with global exposure of having worked with Japanese, European and other Asian companies at leadership positions.
Karan Sehgal, Co-founder of MTA EV said, “We have planned an initial investment of Rs 100 crore which will be funded by MT Autocraft, Sehgal family and a few HNIs.”
Vivek Jakhmola, Co-founder, MTA EV, informed that the company plans to hire another 200 people in the next 12 months. “We aim to create a sustainable organization with a sharp focus on technology through self-reliance and intra-dependence on our foreign collaboration partners. We are already a 50 plus strong team in R&D and Market research. The team size will increase to 200 plus in the next 12 months,” he explained.
MTA EV plant has in-house facilities for assembly, end of line vehicle inspection, production monitoring, paint shop, chassis fabrication and surface coating among others. MTA EV’s head office in Gurgaon houses R&D, Sales and Purchase functions along with Finance and HR.
