MT Autocraft Forays Into Electric Mobility With A Seed Funding Of Rs. 100 Crore

MT Autocraft, a supplier of machined components and assemblies, announced the launch of electric mobility company MTA E-Mobility Pvt Ltd (MTA EV), as it aims to lead the way towards sustainable, reliable, futuristic, and smart solutions. The company in a statement said that it has planned an initial investment of Rs. 100 crore which will be funded by MT Autocraft, the Sehgal family and a few HNIs. Moreover, the company plans to hire 200 people in the next 12 months as it looks to grow its presence in the electric mobility space. The youngest EV marker will make its market debut at the upcoming Auto Expo 2023.

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Karan Sehgal, Co-founder, MTA EV said, “This is the testimony of our commitment towards sustainability and the Make in India initiative. MTA EV aims to lead the way towards sustainable, reliable, futuristic and smart solutions.”

Vivek Jakhmola, Co-founder, MTA EV said, “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.”

The electric mobility start-up has already built a dedicated plant spread over three acres at Palwal in Haryana. 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.

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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.