One Moto India to set up EV unit in Hyderabad

New Delhi: 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 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," company 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.