MT Autocraft Infusing INR 100 Cr In New EV Entity

Mobility Outlook Bureau
10 Nov 2022
10:06 AM
1 Min Read

The electric mobility startup has built a dedicated plant spread over three acres at Palwal in the national capital region


Karan Sehgal, Co-founder,  MTA EV
Karan Sehgal, Co-founder,  MTA EV

MT Autocraft, a supplier of machined components and assemblies, has announced the launch of its electric mobility company, MTA E-Mobility (MTA EV) with a seed fund of INR 100 crore. 

“We have planned an initial investment of INR 100 crore which will be funded by MT Autocraft, Sehgal family, and a few HNIs,” said Karan Sehgal, Co-founder,  MTA EV. 

Vivek Jakhmola, former president of the JBM Group, has come onboard as Co-founder. MTA EV has  a dedicated plant spread over three acres at Palwal in the national capital region and is looking at becoming a complete electric mobility solutions provider. 

The initial focus will be on manufacturing electric vehicles and key electrical systems. Already a 50-member team, Jakhmola said the company plans to hire another 200 people in the next 12 months. 

'We aim to create a sustainable organisation with a sharp focus on technology through self-reliance and intra-dependence on our foreign collaboration partners,' he added.

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