UK startup One Moto to invest Rs 250 crore in EV, battery facility in Zaheerabad
Hyderabad: British EVtech startup One Moto will be investing Rs 250 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 & promoter Muzammil Riyaz said on Monday.
One Moto’s Indian manufacturing facility will not just cater to the domestic EV market but will also ship to exports markets as well.
