One Moto electric 2-wheeler plant proposed near Hyderabad
The Hindu
Firm evaluating sites for ₹250 crore facility, potential for 500 direct and 2,000 indirect jobs
Ellysium Automotives, which is promoting British electric vehicle brand One Moto in India, plans to set up a manufacturing facility for the electric two-wheelers near Hyderabad with an investment of ₹250 crore.
A memorandum of understanding has been signed and the State government has shown the company a few sites, for the proposed facility, on the outskirts of Hyderabad. The company is fine tuning details of the project, which is expected to go on stream in the October-December quarter of this year, CEO Shubhankar Chaudhry said.
He was speaking after Industries and IT Secretary Jayesh Ranjan on Monday launched One Moto’s e-scooters — Byka, Electa, and Commuta. The company in a release said the e-scooters are high-speed premium products. Partner and Promoter of One Moto India Md.Muzammil Riyaz and co-founder and partner Sameer Moidin participated.
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