Chinese consumer electronics conglomerate Skyworth Group plans to invest $100 million in Telangana to set up a manufacturing facility to produce a wide array of white goods such as LED TVs, set top boxes in a phased manner.
Group chairman Lai Weide signed an MoU with the Telangana government for the plant, which is to be set up through its subsidiary, Radiant Appliances and Electronics Private Limited, on 50 acres of land.
The company proposes to make latest generation Lithium-ion batteries for electric vehicles, air conditioners, refrigerators and washing machines in the second phase expansion, according to the Shenzen-based company.
"Skyworth is highly encouraged by the electronics manufacturing industry supportive policies of Telangana government. Besides bringing high quality manufacturing skills, economy of scale through very efficient supply chain, Skyworth will be bringing the futuristic products to Indian consumers," Lai Weide said.