Electric two-wheeler maker One Moto India on Monday said it plans to invest Rs 250 crore to set up a manufacturing unit in Telangana.
The company has signed a memorandum of understanding with the state government to set up the new facility at the outskirts of the capital Hyderabad, One Moto said in a statement.
''We aim to manufacture at least 40,000 units in the first phase of the plant launch, and capacity will easily be taken up to one lakh in two years,'' One Moto India co-founder and partner Sameer Moidin said.
To be spread across 15 acres, the new manufacturing plant will have major automation integration with additional semi-robotics, and the latest manufacturing machinery to produce cutting edge products, the company said.
One Moto India CEO Shubhankar Chaudhry said the plant will create almost 500 direct and 2,000 indirect jobs in the state.
After the brand launch in India in November 2021, One Moto has already brought three high-speed electric scooters – Byka, Electa, and Commuta – into the Indian market.
(With inputs from PTI)
