Morello Yamasaki to set up electric vehicle unit in Ahmedabad, invests Rs. 155 crore.

Morello Yamasaki, an Indo-Japanese collaboration between Arya group, Mumbai and Yamasaki Motors of Japan will set up a two-wheeler electric vehicle (EV) manufacturing unit near Ahmedabad with an initial investment of Rs. 155 crore.

'We are targeting 60,000 units per year by 2015-16 and in five years we plan to expand to 10 lakh units per year,' said Rajit Arya, CEO, Morello Yamasaki on the sidelines of the conference on 'Sustainability Mobility with Electric Vehicle' organized by CII. The company already has an assembling unit in Changodar where it manufactures three models.

The new unit will have more than 60% localization in three years as the company will manufacture most parts indigenously instead of importing them. Arya further said that initially, plastic components will be manufactured at this new unit and we will later begin manufacturing critical components. The company also plans to launch two more high-speed variants in the next year.


TIMES OF INDIA