Telegu actor Vijay Deverakonda has invested in a Hyderabad-based electric vehicle startup, Watts and Volts, which will commence its operations from 2021. The announcement was made by Deverakonda during the Electric Vehicle (EV) Policy launch in Telangana on Friday.
According to a release, the actor Vijay Deverakonda who has already stepped into the entrepreneurial world with his clothing line 'Rowdy', has now taken a step towards eco commute and shared mobility by joining hands with Watts and Volts with his investment into eco-friendly and sustainable electric bikes startup Watts and Volts Mobility Private Limited.
During the EV Policy launch event, Watts and Volts revealed its operation plans and said that it will start active operations from January 2021.The startup will be adopting a pay-per-use business
model that will allow a user to just pay for using the EV only
for the distance travelled.
The Telangana government, as part of its new EV policy to promote electric
vehicles, offers 100% exemption of road tax and registration fee
for the first two lakh electric two-wheelers purchased and registered
within the state, according to the State Electric Vehicle and Energy
Storage Policy.
"I
strongly believe in sustainable and eco-friendly alternatives that
facilitate a greener future. With Watts and Volts, we are working on
electric cycles, bikes and scooties that will eliminate pollution, for
short travel as opposed to the conventional fuel based transportation
system," he said in the release.
Read more at:
https://economictimes.indiatimes.com/small-biz/startups/vijay-deverakonda-invests-in-e-vehicle-startup-watts-and-volts/articleshow/78969677.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
https://economictimes.indiatimes.com/small-biz/startups/vijay-deverakonda-invests-in-e-vehicle-startup-watts-and-volts/articleshow/78969677.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
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