West Bengal has attracted its inaugural foreign investment under the new BJP government with the launch of an electric scooter. This Indo-Thai manufacturing collaboration between Mercstone International Pvt Ltd and Assara Electric Company Ltd involves a substantial ₹250 crore investment, aiming to establish e-scooter production in the state. Government officials highlighted this development as proof of their commitment to creating a conducive business environment and attracting industries, projecting a significant boost in employment. The e-scooters are competitively priced, with options for zero down payment, and are expected to empower individuals like food delivery agents and contribute to the expansion of electric public transport. This partnership signifies a step towards strengthening industrial ties and promoting sustainable mobility.

West Bengal has attracted its inaugural foreign investment under the new BJP government with the launch of an electric scooter. This Indo-Thai manufacturing collaboration between Mercstone International Pvt Ltd and Assara Electric Company Ltd involves a substantial ₹250 crore investment, aiming to establish e-scooter production in the state. Government officials highlighted this development as proof of their commitment to creating a conducive business environment and attracting industries, projecting a significant boost in employment. The e-scooters are competitively priced, with options for zero down payment, and are expected to empower individuals like food delivery agents and contribute to the expansion of electric public transport. This partnership signifies a step towards strengthening industrial ties and promoting sustainable mobility.

West Bengal has attracted its inaugural foreign investment under the new BJP government with the launch of an electric scooter. This Indo-Thai manufacturing collaboration between Mercstone International Pvt Ltd and Assara Electric Company Ltd involves a substantial ₹250 crore investment, aiming to establish e-scooter production in the state. Government officials highlighted this development as proof of their commitment to creating a conducive business environment and attracting industries, projecting a significant boost in employment. The e-scooters are competitively priced, with options for zero down payment, and are expected to empower individuals like food delivery agents and contribute to the expansion of electric public transport. This partnership signifies a step towards strengthening industrial ties and promoting sustainable mobility.

The launch of an electric scooter in West Bengal on Wednesday marked the state's first foreign investment since the BJP government came to power. The e-scooter is a part of an Indo-Thai manufacturing collaboration between Kolkata-based Mercstone International Pvt Ltd (Mercstone EV) and Thailand-based Assara Electric Company Ltd. The project involves a phased investment of ₹250 crore to manufacture electric scooters in West Bengal. The initiative forms part of Assara Electric's long-term strategy to expand its presence across India.   

"In the coming days, we hope you will take advantage of the facilities we offer and that this partnership will lead to many more exciting ventures," said State Finance Minister Dr Swapan Dasgupta.

In June, the finance minister presented an industry-friendly budget of ₹4,38,775 crore, promising to create a conducive environment for businesses, to bring the state on par with others in the country, and generate employment.

"This proves that within two months, the new government has attracted industry at a time when businesses were leaving the state. Our slogan was fear out, trust in. Investors will invest in West Bengal, which will usher in jobs," said State Transport Minister Arjun Singh. He added that electric scooters could help food delivery agents become more financially independent.

Singh also highlighted the potential for expanding electric public transport, including buses. With fuel prices continuing to rise, he said the future of mobility lies in electric vehicles, with major automobile manufacturers increasingly focusing on EV production for the domestic market.

“After the change in government, I was the first to bring in foreign investment. If the government supports us, within 2028, I will bring in Rs.1 lakh crore investment," said Devdutta Mukherjee, Managing Director of Mercstone International Pvt Ltd. He added that their Thai counterparts would assess the market response over the next six months, after which the company could consider launching a four-wheeler within the next five years.

The company said the latest model was launched in India on Wednesday, with newer models to be manufactured in the coming months. Pricing is competitive and a person can purchase a vehicle with no down payment. The estimated cost of the vehicle is between ₹ 50,000 and ₹ 60,000. The raw material and advanced technology like waterproof motors and advanced thermal management systems will be provided by their Thai partner, while their Indian counterpart will provide the manpower, manufacturing infrastructure, production, along with operations and marketing across the country. 

“We believe this collaboration will further strengthen industrial ties between Thailand and India while creating products capable of competing successfully in both domestic and international markets," said Sittinan Assarnsree, Chairman and Managing Director of Thailand-based Assara Electric Company Ltd.

This merger proposes to provide direct and indirect employment opportunities as the manufacturing capacity expands in phases.

TAGS