Kolkata | July 29, 2026 

Kolkata-Based Mercstone Unveils Electric Scooter, Announces ₹250 Crore EV Manufacturing Investment

In one of the most significant Indo–Thai manufacturing collaborations in India's rapidly expanding electric mobility sector, Kolkata-headquartered Mercstone International Pvt. Ltd. (Mercstone EV) and Assara Electric Company Ltd., Thailand, on Wednesday announced a strategic partnership to manufacture electric scooters in India through a proposed phased investment of nearly ₹250 crore. The first manufacturing facility will be established in West Bengal as part of the companies' long-term pan-India expansion strategy.

On the occasion, the company's flagship electric scooter was formally unveiled in the presence of Dr Swapan Dasgupta, Hon'ble Minister of Finance, Shri Arjun Singh, Hon'ble Minister-in-Charge, Department of Labour & Transport, Government of West Bengal, along with senior government officials, industry leaders and an international business delegation.

The collaboration marks the beginning of a long-term Indo–Thai partnership aimed at building an integrated electric mobility manufacturing ecosystem in India. Under the partnership, Assara Electric Company Ltd. will provide advanced technology, technical know-how and critical raw materials, while Mercstone International Pvt. Ltd. will establish the manufacturing infrastructure, complete production facilities, skilled manpower, and oversee all manufacturing, operations, marketing, sales and after-sales support across India.

The proposed venture will focus on the manufacturing, assembly and distribution of next-generation electric scooters while developing a comprehensive ecosystem comprising component suppliers, technology partners, dealerships, service centres and logistics networks across the country. The project is expected to generate substantial direct and indirect employment opportunities as manufacturing capacity expands in phases.

The investment comes at a time when India is accelerating its transition towards electric mobility under its sustainability agenda. The collaboration is expected to strengthen industrial cooperation between India and Thailand through technology transfer, advanced manufacturing, product development and innovation, while supporting India's vision of becoming a global hub for clean mobility manufacturing.

Mercstone International Pvt. Ltd., incorporated in 2020, has already established a manufacturing and warehousing facility near the Kalyani Expressway at Barrackpore and has identified an additional location at Nabarand for future expansion. The company plans to scale manufacturing capacity progressively to meet growing demand across India.

Its product portfolio will feature smart connected electric scooters equipped with Bluetooth-enabled vehicle tracking, 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.

As part of its national growth strategy, Mercstone EV will establish a robust dealership, distribution and after-sales service network across India to ensure seamless customer support and long-term product reliability.

Looking ahead, the promoters plan to diversify into electric four-wheelers within the next five years, targeting an annual turnover of ₹500–700 crore while steadily expanding their manufacturing footprint and product portfolio.

Industry observers believe the Mercstone–Assara partnership represents an important milestone in strengthening India's electric vehicle manufacturing ecosystem by combining international technology with Indian production capabilities. With India's EV market poised for sustained growth over the coming decade, the collaboration aims to contribute significantly to the country's clean mobility ambitions while enhancing India's position as a competitive global manufacturing destination.

Quote – Tathagata Mukherjee

Director, Mercstone International Pvt. Ltd.

«"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. Together with Assara Electric, we aim to create a strong manufacturing ecosystem, generate employment, strengthen the domestic vendor network and contribute meaningfully to India's vision of becoming a global clean mobility manufacturing hub."»

Quote – Sandip Ghosh

General Manager, Mercstone International Pvt. Ltd.

«"This partnership brings together the complementary strengths of both organisations. Assara Electric will provide advanced technology, technical expertise and critical raw materials, while Mercstone International will establish the complete manufacturing infrastructure, production facilities, skilled manpower and manage all manufacturing, operations, marketing and customer support in India. Together, we are committed to delivering technologically advanced, reliable and affordable electric mobility solutions backed by a strong nationwide dealership and after-sales network."»

Quote – Assara Electric Company Ltd., Thailand

«"India has emerged as one of the world's most promising electric vehicle markets, offering tremendous opportunities for innovation and manufacturing. 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."»

About Mercstone International Pvt. Ltd.

Mercstone International Pvt. Ltd., headquartered in Kolkata, develops and manufactures smart, sustainable and affordable electric mobility solutions. The company is building an integrated pan-India ecosystem encompassing advanced manufacturing, technology, dealerships, distribution and after-sales services.

About Assara Electric Company Ltd.

Assara Electric Company Ltd., Thailand, specialises in electric mobility technologies, advanced manufacturing systems and EV components. Under the strategic partnership, the company will provide up technology, technical expertise and key raw materials to support the development of globally competitive electric vehicles for the Indian and international markets. This version is suitable for circulation to the media and follows standard corporate press release style with clearer role allocation, stronger flow and consistent terminology. Indo–Thai EV venture announces proposed ₹250-crore phased investment as Mercstone International and Thailand's Assara Electric forge strategic manufacturing partnership.

Smt Papiya Adhikari, Hon'ble Member of Legislative Assembly, West Bengal unveiled the newly launched Infrared Cooktop. This Cooktop is a brand-new innovation to reduce electric consumption and introduce a better and smarter way of cooking. It can be used with every type of utensils of our daily household chores. 

Dr Rajesh Kumar, Hon'ble Member of Legislative Assembly was also present at the event.