One Moto India plans to invest Rs 250 cr to set up manufacturing unit in Telangana – EQ Mag Pro
The brand is planning to invest up to Rs 250 crore to establish the manufacturing unit and also to create around 500 direct and 2,000 indirect jobs.
HYDERABAD : The first-ever British brand of premium EVs in India, One Moto has entered into an MoU with the Telangana government to set up its manufacturing unit in the state. The new facility will come up in the outskirts of Hyderabad, which is turning into a key market for electric vehicles as the government is accelerating the EV revolution with supporting policies and building good infrastructure.
The brand is planning to invest up to Rs 250 crore to establish the manufacturing unit and also to create around 500 direct and 2,000 indirect jobs. This development will serve larger purposes in all directions for the holistic development of the electric mobility ecosystem in the state.
Md Muzammil Riyaz, partner & promoter of One Moto India, said: “The idea is to manage all the production in India and cater to the growing market. We aim to manufacture at least 40,000 units in the first phase and the capacity can easily be enhanced to 1,00,000 in two years’ time.”
The new plant, to be set up on 15 acres of land, will have major automation integration with additional semi robotics and the latest manufacturing machinery to produce cutting-edge products.
On the occasion, Jayesh Ranjan, Principal Secretary of IT & Industries launched One Moto’s three e-scooters — Byka, Electa, and Commuta, all high-speed premium products.
One Moto India CEO Shubhankar Chaudhry said that there is a tremendous opportunity to create jobs in Telangana not just at the manufacturing facility but also in rural areas.
Source : PTI
