GPS tracker and IoT device manufacturer, Volty IoT Solutions is planning to set up a new manufacturing facility in Andhra Pradesh at Mangalagiri. The manufacturing unit will have a production capacity of 2,000 devices a day and involve an initial investment of Rs 500 million.
With the proposed manufacturing facility at Mangalagiri, Volty IoT will attain a total capacity of 3,000 devices per day.
As per the company, the manufacturing facility will cater to the growing need for global positioning system (GPS) trackers in sand, mineral mining and public transport vehicles in the region.
With union government making passenger safety devices mandatory for all the new commercial passenger vehicles and national permit trucks from January 1, 2020, the Hyderabad headquartered IoT solutions firm plans to tap the market opportunity of around 30 million units a year across the country.
Meanwhile, Volty IoT has also entered into arrangements with half a dozen GPS tracker suppliers for contract manufacturing of products for them.