NexGen Energia, a sustainable energy solutions company, announced its plans to invest Rs 1,000 crore in establishing an electric vehicle (EV) manufacturing facility in Jammu and Kashmir. The Noida-headquartered firm revealed that it is currently engaged in discussions with local authorities in the Union Territory and is actively seeking a 100-acre plot of land, either in the Kashmir Valley or in the Kathua industrial area.
This decision follows closely on the heels of NexGen Energia’s recent announcement of a Rs 3,000 crore investment for the establishment of a Compress Bio Gas (CBG) plant in Gujarat.
Piyush Dwivedi, Chairman of NexGen Energia, expressed, “In line with the ‘Make in India’ initiative, we are committed to realizing the vision of a self-reliant India. We are embarking on the establishment of an EV manufacturing plant in Jammu and Kashmir in partnership with the government, entailing an investment of Rs 1,000 crore.”
Dwivedi added, “The manufacturing plant will generate job prospects for around 100,000 people, encompassing both direct and indirect employment.” Additionally, we aim to introduce NGE’s most affordable electric two-wheeler, priced at just Rs 36,900, from our Noida unit, scheduled for launch on April 15 next month.”
Last week, the Chairman of NexGen Energia met with Union Minister for Road Transport and Highways, Nitin Gadkari, at his office in Delhi, where the company presented proposals concerning sustainable energy solutions, including the increased utilization of CBG and domestically manufactured EVs.
The company disclosed that it has a lineup of electric two-wheelers and three-wheelers ready for launch and intends to expand its product range to include electric buses, trucks, and cars in the future.
