Gensol Engineering announces Rs 2,000cr EV investment in Gujarat

In a landmark move for India’s electric vehicle (EV) sector, Gensol Engineering Limited (GEL), a frontrunner in renewable energy and electric mobility, has announced a monumental partnership with the Government of Gujarat. This groundbreaking Memorandum of Understanding (MoU), signed during the investment promotion activity for the Vibrant Gujarat Global Summit 2024, earmarks an investment of INR 2,000 Crore for a state-of-the-art EV manufacturing facility for Gensol EV, set to generate approximately 1,500 green jobs in the region.

A Strategic Alliance for Sustainable Mobility

The MoU, signed in the presence of Chief Minister Bhupendra Patel, signifies GEL’s steadfast commitment to a cleaner tomorrow and marks a pivotal step in electrifying India’s path towards sustainable development. Anmol Singh Jaggi, Co-founder of Gensol Group, expressed his gratitude to the Government of Gujarat for their collaboration and support. He emphasized that the investment highlights their confidence in Gujarat’s dedication to sustainable growth and green manufacturing, and the partnership is expected to propel the state to new heights in the EV revolution.

Gensol Engineering and Gujarat Government Forge INR 2,000 Crore EV Manufacturing Deal

The Proposed EV Manufacturing Plant: A Hub of Innovation

The upcoming EV manufacturing plant is anticipated to be a hub of innovation, producing a wide range of cutting-edge EVs for both commercial and personal use. This initiative is a defining moment in the collaborative efforts of GEL and the Government of Gujarat to accelerate EV adoption. It exemplifies India’s commitment to sustainable development, steering the nation towards a cleaner and greener future.

Key Highlights of the MoU

– A Powerhouse Partnership: The Government of Gujarat and Gensol Engineering Ltd. join forces to electrify India’s future.

– INR 2,000 Crore Investment: Fueling innovation and economic growth through a state-of-the-art EV manufacturing plant.

– 1,500 Green Jobs: Empowering individuals and enhancing Gujarat’s EV ecosystem.

– Diverse EV Portfolio: Addressing all aspects of sustainable mobility, from passenger cars to commercial vehicles.

– Aligned with India’s Green Vision: Supporting India’s journey towards a cleaner future, in line with the net zero commitment by the year 2070.