Elista, electronics and home appliances maker has signed an MoU with the Government of Andhra Pradesh and the company will be investing Rs 100 crore for its new manufacturing plant.
The company has signed the important document in the presence of Shri Y. S. Jagan Mohan Reddy, Hon’ble Chief Minister of Andhra Pradesh. The upcoming plant is the second manufacturing plant of the company in Andhra Pradesh.
Elista recently announced setting up a modern 1.32 lakh sq ft facility in Andhra Pradesh with an investment of Rs 250 crore in March 2023. The company has also confirmed reaffirming its commitment to Atmanirbhar Bharat as well.
The company has planned to start operation in December 2024 and the new manufacturing plant marks Elista’s foray into smartwatch segment. This state-of-the-art plant will have a production capacity of 10 lakh Smartwatches & 2 lakh Speakers and will generate an employment opportunity for around 500 people.
It is worth mentioning that the first plant will focus on manufacturing TVs and LED Monitors. The latest plant of the company will be boosting in-house manufacturing of audio speakers, smartwatches, and other large appliances.
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