HYDERABAD: LiteAuto GmbH, a German company specialising in the production of components made of magnesium alloys for vehicles, will be investing Rs 1,500 crore in Telangana to establish an advanced design and manufacturing facility.
An MoU was signed between the Telangana government and LiteAuto GmbH in the presence of Minister for IT & Industries KT Rama Rao and Walter J Lindner, German Ambassador to India, on Monday.
The facility will provide direct employment to more than 9,000 persons and potentially create over 18,000 indirect employment opportunities in the state.
The facility will manufacture magnesium products for cars, commercial vehicles and two-wheelers in both the ICE and EV segments.
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