Gensol Engineering Limited (GEL), a prominent player in the renewable energy and electric mobility sector, has forged a transformative partnership with the Government of Gujarat, paving the way for a sustainable future in India. The momentous Memorandum of Understanding (MoU), signed during the Vibrant Gujarat Global Summit 2024’s investment promotion activity, signifies a substantial INR 2,000 Crore investment in state-of-the-art Electric Vehicle (EV) manufacturing for Gensol EV. This ambitious project is anticipated to generate approximately 1,500 green jobs in the region.
Hon’ble Chief Minister Shri Bhupendra Patel presided over the signing ceremony, highlighting the state’s commitment to fostering sustainable growth and green manufacturing. Anmol Singh Jaggi, Co-founder of Gensol Group, expressed gratitude to the Government of Gujarat for their collaboration, emphasizing the INR 2,000 Crore investment as a testament to their confidence in the state’s dedication to sustainable development.
The proposed EV manufacturing plant aims to be an innovation powerhouse, producing a diverse range of cutting-edge EVs for both commercial and personal use. The signing of the MoU signifies a pivotal moment in the joint efforts of GEL and the Government of Gujarat to accelerate the adoption of electric vehicles, aligning with India’s broader commitment to sustainable development and a cleaner, greener future.
Key Highlights of the MoU:
- Powerhouse Partnership: The collaboration between the Government of Gujarat and Gensol Engineering Ltd. aims to drive the electrification of India’s future.
- INR 2,000 Crore Investment: The substantial investment will fuel innovation and contribute to economic growth through the establishment of a state-of-the-art EV manufacturing plant.
- 1,500 Green Jobs: The initiative is set to empower individuals and bolster Gujarat’s EV ecosystem by creating a significant number of jobs.
- Diverse EV Portfolio: The manufacturing plant will cater to various segments, producing EVs ranging from passenger cars to commercial vehicles, contributing to sustainable mobility.
- Aligned with India’s Green Vision: The initiative is in line with India’s commitment to a cleaner and greener future, supporting the country’s goal of achieving net-zero emissions by 2070.
