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

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