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Skyworth Group, the Hong Kong-based $ 5 billion consumer electronics conglomerate, plans to set up a manufacturing base near Hyderabad which is likely to see an investment outlay of $ 100 million.
The company manufactures a wide array of products, including LED TVs, set top boxes, lithium batteries and white goods. Lai Weide, Board Chairman, Skyworth Group signed an MoU with Telangana Government in presence of K. T. Rama Rao, Minister for IT and Urban Development in Hyderabad.
As er their plans, Skyworth Group will make an investment of $100 million in phase 1 to set up a manufacturing base under the name Radiant Appliances & Electronics. It will be spread across in a 50 acre site.
Skyworth and METZ brand LED TVs are already into production. In its second phase of expansion, it is adding the manufacturing of latest generation Lithium batteries of electric vehicles, and wide array of white goods including air conditioners, refrigerators and washing machines.
Lai Weide said, “Skyworth is highly encouraged by the electronics manufacturing industry supportive policies of Telangana government. Besides high quality manufacturing skills, scale of economy through very efficient supply chain, Skyworth will be bringing the futuristic products to Indian consumers. Along with up-scaling of the skills of the local people, Skyworth will undertake socially responsible initiatives.”
Wang Zenjun, Executive Vice President, Skyworth said, “India is very strategic market under Skyworth global expansion plan and it is noteworthy that quality, decision and latest technology AIOT products of Skyworth and Metz are well received by Indian consumers. Skyworth is committed to Indian markets and would continue to make substantial investments in India market in a phased manner.”
K.T.Rama Rao said, “Skyworth will generate employment opportunity of more than five thousand people.” While congratulating Skyworth for starting the manufacturing, he assured all possible support from Telangana government.
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