Mumbai: Actor-cum-entrepreneur Vijay Deverakonda has announced his investment in a Hyderabad-based electric vehicle startup Watts and Volts, which is gearing to commence operations from next year.
Deverakonda announced his investment at the launch ofthe Telangana government's new Electric Vehicle Policy on Friday, according to a release.
He, however, did not disclose the amount of investment.
After successfully helming his clothing line 'Rowdy', Vijay Deverakonda 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, the release said.
"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.
The company's operation plan and vision statement was also launched at the Telangana EV Summit on Oct 30 at Hyderabad, said the release adding under its pay- per- use model, a user can just pay for using the EV only for the distance travelled.
Watts and Volts will start active operations from January 2021, it added.
Launched by Talangana IT Minister K T Ramarao, the policy will be effective from 2020 to 2030.
