New Delhi, April 6 -- In a major leap in the state's EV manufacturing sector, US-based Triton EV has inked a memorandum of Understanding (MoU) with the government of Gujarat to set up EV Truck manufacturing plant with a minimum investment of Rs 10,800 crore over five years.

Boost to this sector will bring more business for component manufacturers who are mostly micro, small and medium enterprises (MSMEs) and generate more employment.

Decks are cleared for setting up Asia's largest electric vehicle (EV) manufacturing hub to come up in Kutch district of Gujarat.

An investment of Rs 1,200 crore will be made in the financial year 2022-23. The plant will provide direct and indirect employment opportunities to about 10,000 people.

The plant...