EV
₹59,999 smart EV scooter, ₹250-crore investment: Kolkata firm's Indo-Thai partnership accelerates West Bengal's electric mobility dream
Kolkata/IBNS: Kolkata-headquartered Mercstone International (Mercstone EV) has announced its strategic manufacturing partnership with Thai-based conglomerate Assara Electric Company, coming together to launch their flagship electric scooter in India with a proposed phased investment of nearly ₹250 crore.
The event was attended by the chairmen and managing directors of both conglomerates, Debdutta Mukherjee and Sittinan Assarasree, as well as ministers of state such as Finance Minister Swapan Dasgupta, Industry and Commerce minister Tapas Roy, and Labour and Transport Minister Arjun Singh.
The event was hosted at ITC Sonar Bangla, Kolkata, bringing together industrialists and ministers for a new phase in Bengal’s development.
The partnership marks the start of a new Indo-Thai partnership aimed at building an integrated electric mobility manufacturing ecosystem in India.
Unveiling of Mercstone and Assara Electric Company's flagship new EV scooter. Photo: PR Team
The partnership would include the collaboration of both companies, with Assara providing critical raw materials, advanced technology and technical know-how and Mercstone establishing manufacturing infrastructure, skilled manpower, production facilities and overseeing all manufacturing, operations, marketing, sales and after-sales support in India.
“Through our partnership with Mercstone International, we are bringing together Thai technology and Indian manufacturing excellence to develop world-class electric mobility solutions.
“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 Assara, managing director of Assara, highlighting their strategic partnership and how it helps the economic and financial development of both Thailand and India.
Director of Mercstone International, Tathagatha Mukherjee, reflecting upon the partnership, said, “This is not merely the launch of a new electric vehicle company; it marks the beginning of a strategic Indo–Thai manufacturing partnership with India at its core. Our proposed ₹250-crore phased investment reflects our long-term commitment to building world-class electric mobility solutions in India”
Inauguration through lamp-lighting ceremony in the presence of Sittinan Assarasree, Debdutta Mukherjee, Arjun Singh, Teera Tavatchainun, etc. Photo: PR Team
Reiterating West Bengal's future, state Finance Minister Swapan Dasgupta said, “This is not merely a scooter launch. The fact that its manufacturing will be established in Bengal is a great new development. I wish them all the help I can provide when it comes to operations and thank them for investing in the state of West Bengal."
"We hope to provide a very hospitable atmosphere so manufacturers can prosper in this land.”
He further talks about Bengal’s facilities and hopes that this start leads to a prosperous future.
Arjun Singh, Minister for the Department of Labour and Transport Development in the state, said, “It proves that a government established merely 2 months and 25 days ago is bringing investment to a state from where industries were running away.”
He further talks about the increase in employment opportunities for the youth in the state both in terms of new employment in manufacturing industries as well as the gig economy (Zomato, Swiggy, etc) with the launch of this scooter, targeting the affordable market at a starting price of around ₹59,999.
He also cited the increase in investments through the entrance of new players in West Bengal’s economy such as the Adani Group and Shyam Steel.
(L-R) Teera Tavatchainun, Sittinan Assarasree, Swapan Dasgupta, and Debdutta Mukherjee in attendance at the event. Photo: PR Team
The newly-launched smart electric scooters include flagship features such as IoT-based anti-theft systems, smartphone integration, keyless start, digital instrumentation, Lithium Iron Phosphate (LFP) battery technology, an Electronic Assisted Braking System (EABS), waterproof motors and advanced thermal management systems, and Bluetooth-enabled vehicle tracking.
Looking ahead, in the next five years, the promoters plan to launch four-wheelers into the market, aiming at an annual turnover of ₹500-700 crore.
(Reporting by Swastik Sarkar, Photos by PR Team)
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