MIVI Invests Rs 200 Cr For Telangana R&D, Manufacturing Facility

Homegrown audio electronic manufacturer MIVI laid the foundation stone for its new factory in Telangana on Friday. This facility will be the first of its kind to host both R&D and manufacturing under one roof.

In a statement, MIVI said the development of this facility started with an investment of Rs 200 crore and is expected to generate more than 2000 new jobs.

Additionally, it mentioned that the facility will be outfitted with cutting-edge technologies and is designed meticulously for environmental sustainability, to produce 1,00,000 units daily, encompassing an extensive array of audio products, including earphones, soundbars, speakers, gaming accessories, and an assortment of allied merchandise.

MIVI believes the expansion will effectively double the company's production capacity in comparison to its existing factory.

Commenting on the development Midhula Devabhaktuni, co-founder and CMO said, “This is a proud milestone for MIVI and India, showcasing nation's burgeoning manufacturing capabilities and reducing reliance on imports in the audio electronics domain.”

The new factory is expected to be operational by March 2025. Presently, the company is the only manufacturing company in the audio space in India and has a manufacturing facility employing more than 1500 people in Hyderabad.