NexGen Energia Ventures into Jammu & Kashmir with EV Manufacturing Unit
Noida-based sustainable energy solutions firm, NexGen Energia, has unveiled ambitious plans to invest Rs 1,000 crore in establishing an electric vehicle (EV) manufacturing unit in Jammu and Kashmir. The company is in active discussions with authorities in the Union Territory, eyeing 100 acres of land in either the Kathua industrial area or the Kashmir Valley.
This announcement comes hot on the heels of NexGen Energia's recent commitment to invest Rs 3,000 crore in setting up a Compressed Bio Gas (CBG) plant in Gujarat.
Piyush Dwivedi, the chairman of NexGen Energia, underscored the company's dedication to the "Make in India" initiative and the pursuit of self-reliance. Dwivedi emphasized that in collaboration with the government, the EV plant in Jammu and Kashmir will necessitate a hefty investment of Rs 1,000 crore and is poised to generate employment opportunities for approximately 100,000 individuals, both directly and indirectly.
Furthermore, Dwivedi disclosed plans for NexGen Energia to launch its most affordable electric two-wheeler, priced at Rs 36,900, from its Noida unit on April 15.
Recently, Dwivedi engaged in discussions with Union Minister for Road Transport and Highways Nitin Gadkari to explore proposals for sustainable energy solutions, including augmenting the use of CBG and bolstering India-made EVs.
NexGen Energia boasts a diverse range of EVs, spanning two-wheelers and three-wheelers, all set for imminent launch. The company envisions broadening its production scope to encompass electric buses, trucks, and cars in the foreseeable future.