Now Telangana is the destination of many electric vehicle manufacturers in the world. British company One Moto to invest RS 250 crore manufacturing electric vehicles in Hyderabad.
The British Vtech start-up One Moto has decided to invest Rs 250 crore in setting up an electric vehicle and lithium-ion battery manufacturing facility at the Zaheerabad National Investment and Manufacturing Zone (NIMZ) in Telangana.
One Moto has come forward to set up an electric vehicle manufacturing plant in Telangana. One Moto is happy to invest Rs 250 crore, said state IT chief Jayesh Ranjan. He unveiled the vehicle in the state on Monday, made by the UK-based One Moto electric vehicle manufacturer.
The Telangana government on Monday signed a Memorandum of Understanding (MoU) to set up a large electric vehicle manufacturing facility in the state to compete with leading British electric vehicle maker One Moto Ola.
The new electric vehicle manufacturing plant will be built on an area of 15 acres in the suburbs of Hyderabad. The company has announced an investment of Rs 250 crore to set up a manufacturing facility. The company announced that it was building a factory with advanced machinery such as semi-robotics to produce cutting-edge products.
One Moto India CEO Subhankar Chowdhury said, ‘With the new manufacturing plant, we aim to not only serve our customers in India but also export the vehicles developed by One Moto to other global markets. We carry out skill development programmes in Telangana as the electronvolt (EV_ After Sales Service requires specialized skilled human resources.
The plant will provide direct employment to 500 people and indirect employment to 2,000 people in the state.
Elated at the development, The State IT and Industries Minister Mr K T Rama Rao said the UK-based electric two-wheeler manufacturer in Telangana was happy to announce its first investment in the New Year. He thanked One Moto teams and congratulated state IT chief Jayesh Ranjan for his initiative