HomeOther Energy Applications ›NexGen Energia to Invest INR 1,000 Cr for New EV Unit in J&K

NexGen Energia to Invest INR 1,000 Cr for New EV Unit in J&K

The Noida-based company said it is currently in talks with the authorities in the Union Territory and scouting for 100-acre land either in the Kathua industrial area or in the Kashmir Valley.

March 20, 2024. By News Bureau

NexGen Energia has announced to invest INR 1,000 crore in setting up a manufacturing unit for electric vehicles (EVs) in Jammu and Kashmir.

The Noida-based company said it is currently in talks with the authorities in the Union Territory and scouting for 100-acre land either in the Kathua industrial area or in the Kashmir Valley. The move comes soon after the company announced INR 3,000 crore investment for setting up a Compressed Bio Gas (CBG) plant in Gujarat.

"Along with 'Make in India', we are on the way to fulfil the dream of self-reliant India. We will establish an EV plant in Jammu and Kashmir in collaboration with the government in which we will invest INR 1,000 crore," comments NexGen Energia chairman Piyush Dwivedi.

"The manufacturing unit will provide direct and indirect employment to about 1 lakh people and we aim to launch NGE's most affordable electric two-wheeler on April 15 next month for just INR 36,900 from our Noida unit," Dwivedi said.

The NexGen Energia chairman said last week he met with Union Minister for Road Transport and Highways Nitin Gadkari at his Delhi office where the company presented its proposals on sustainable energy solutions like increasing the use of CBG and India-made EVs.

The company has a range of electric two-wheelers and three-wheelers which is ready for launch. It will eventually start production of electric buses, trucks and cars in the future, it said.
Please share! Email Buffer Digg Facebook Google LinkedIn Pinterest Reddit Twitter
If you want to cooperate with us and would like to reuse some of our content,
please contact: contact@energetica-india.net.
 
 
Next events
 
 
Last interviews
 
Follow us