Hyderabad: British EVtech startup One Moto will be investing Rs250 crore in setting up an electric vehicles and lithium ion battery manufacturing facility at the Zaheerabad National Investment and Manufacturing Zone (NIMZ) in Telangana.
The facility, to be spread over 15 acres, will have major automation integration with additional semi-robotics, and latest manufacturing machinery to produce cutting edge products and is expected to become operational by the end of the year.
It will have a capacity to manufacture around 40,000 bikes per annum in phase 1, going up to around one lakh EVs per annum over the next two years, One Moto India partner and promoter Muzammil Riyaz said on Monday.
One Moto’s India manufacturing facility will not just cater to the domestic EV market but will also ship to exports markets as well.
The facility will also make Li-ion batteries starting with a capacity of around 50,000 batteries per annum and scaling up to around 2 lakhs per annum capacities in future, Riyaz said, adding that the company is also working towards acquiring a batter tech startup in the future.
Currently, the 3 year old startup is assembling around 1,000-1,500 bikes on a monthly basis in Hyderabad. “We are currently doing CKD (completely knocked down) assembly in Hyderbad. We import the kits from China and UK. But once the new facility goes operational we will be manufacturing everything from scratch in India”, he explained
The proposed plant in expected to generate around 500 direct jobs and provide indirect employment to about 2,000 people. One Moto also inked an MoU with the Telangana Govt. for the facility on Monday.