Volty IoT Plans Rs 50 Crore GPS Devices Plant In Andhra Pradesh

Hyderabad headquartered GPS trackers and IoT devices manufacturer Volty IoT Solutions has announced setting up a new manufacturing facility in Andhra Pradesh at Mangalagiri with a capacity to produce 2,000 devices a day, involving an initial investment of Rs 50 crore.

In a statement, the company said the proposed manufacturing facility will cater to the growing need for GPS trackers in sand and mineral mining and public transport vehicles in the region.

Claiming to currently enjoy a market share of over two-thirds in Andhra Pradesh, chief executive officer Konark Chukkapally said the Andhra government has made it mandatory for all the vehicles involved in the transportation of sand to have GPS trackers.

“We have readied some 10,000 units of AIS 140 model GPS trackers to be installed in these vehicles into sand transportation. Being one of the empaneled manufacturers, we are hoping to secure two-thirds of the fresh orders of around 25,000 GPS devices to be fixed over couple of weeks,” Konark told ET.

With the proposed manufacturing facility at Mangalagiri, Volty IoT will attain a total capacity of 3,000 devices a day to cater to the growing market needs.

With the union government making it mandatory for all the new commercial passenger vehicles and national permit trucks to be fitted with the passenger safety devices from January 1, the Hyderabad headquartered IoT solutions firm hopes to tap the market opportunity of around 3 crore units a year across the country.

Further, Volty IoT has also entered into arrangements with half a dozen GPS tracker suppliers for contract manufacturing of products for them.―Business Telegraph