- The company will invest $ 100 million (Rs 10 crore) in the first phase to manufacture electronic goods
- In the second phase of expansion, the company will manufacture lithium batteries for electric vehicles
According to a report by the New Indian Express, US-based consumer electronic manufacturing company, Skyworth is planning to invest Rs 700 crore in Hyderabad to set up a facility to manufacturing electronic goods. The report said that unit will generate employment to over 5,000 people.
The report said that the Skyworth group chairman Lai Weide signed an MOU with Telangana Government, in the presence of IT Minister K T Rama Rao. According to the MoU, the company will invest $ 100 million ( Rs 10 crore) in the first phase to manufacture electronic goods.
Lithium batteries for electric vehicles
As per the report, the company will set up a state-of-the-art manufacturing base named Radiant Appliances & Electronics Pvt Ltd in a land near Hyderabad with a capacity of 50-acre. In the second phase of expansion, the company will manufacture lithium batteries for electric vehicles, white goods like air conditioners, refrigerators and washing machines.
