Gensol Engineering Limited (GEL), a front-runner in renewable energy and electric mobility, has forged a groundbreaking partnership with the Government of Gujarat, setting the stage for India’s sustainable future in the realm of electric vehicles (EVs). This significant Memorandum of Understanding (MoU) was formalized during the investment promotion event for Vibrant Gujarat Global Summit 2024 and entails an INR 2,000 Crore investment in establishing an ultramodern Electric Vehicle manufacturing unit, Gensol EV, with the potential to generate around 1,500 employment opportunities in the area.
This collaboration underscores GEL’s steadfast commitment to envisioning a cleaner tomorrow, aligning with the state’s trajectory towards sustainable growth and environmentally friendly manufacturing practices. Anmol Singh Jaggi, Co-founder of Gensol Group, expressed gratitude towards the Government of Gujarat for fostering an ecosystem conducive to revolutionizing the burgeoning EV landscape. He emphasized that the substantial investment signifies their confidence in the state’s dedication to sustainable advancement, anticipating a mutually beneficial partnership to propel Gujarat into a new era of EV innovation.
The envisioned EV manufacturing facility aims to be a hub of ingenuity, manufacturing a diverse array of cutting-edge electric vehicles, addressing both commercial and personal vehicle segments. This landmark agreement between GEL and the Gujarat government marks a pivotal moment in their collective pursuit to expedite EV adoption, emblematic of India’s commitment to sustainable development and a greener future.
Key highlights from the MoU include the formidable collaboration between the Government of Gujarat and Gensol Engineering Ltd., the substantial INR 2,000 crore investment towards fostering innovation through a state-of-the-art EV manufacturing plant, the creation of 1,500 environmentally conscious job opportunities, and the diverse portfolio of EVs catering to various segments of sustainable mobility. This initiative stands in alignment with India’s ambition to achieve net-zero emissions by 2070, propelling the nation towards a cleaner and more sustainable future.
