One Moto, a British electric vehicles brand, will invest about ₹250 crore to set up a manufacturing facility near Hyderabad.

The 15-acre plant, which is likely to provide 500 jobs, will produce a range of One Moto fleet.

The company has signed a memorandum of understanding with the Telangana Government in this regard.

Jayesh Ranjan, Principal Secretary (Information Technology) has launched One Moto’s e-Scooters - Byka, Electa, and Commuta.

“The idea is to manage all the production in India and cater to the growing market here. We aim to manufacture at least 40,000 units in the first phase. There is a scope for increasing the capacity to one lakh vehicles in two years,” Md Muzammil Riyaz, Partner & Promoter of One Moto India, said.

“With the new manufacturing plant, we not only aim to serve our customers in India but also export the vehicles ,” Shubhankar Chaudhry, Chief Executive Officer of One Moto India, said in a statement on Monday.