NexGen Energia to invest INR 1,000cr for setting up EV manufacturing unit in J&K

Sustainable energy solutions firm NexGen Energia on Monday said it will invest Rs 1,000 crore in setting up an electric vehicle (EV) manufacturing unit in Jammu and Kashmir. The Noida-based company said it is currently in talks with Union Territory authorities and scouting for 100-acre land in Kathua industrial area or in the Kashmir Valley.

The move comes soon after the company announced an investment of Rs 3,000 crore for setting up a Compress Bio Gas (CBG) plant in Gujarat.

"Along with the 'Make in India', we are on our way to fulfil the dream of a self-reliant India. We will set up an electric vehicle plant in Jammu and Kashmir in collaboration with the government in which we will invest INR. 1,000 crore" NexGen Energia Chairman Piyush Dwivedi told.

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"The manufacturing unit will provide direct and indirect employment to about 1 lakh people and we aim to launch the 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 that he met Union Road Transport and Highways Minister Nitin Gadkari at his office in Delhi, where the company presented its proposals on sustainable energy solutions, such as greater use of CBG and Indian-made electric vehicles.

The company has a range of EVs two-wheelers and three-wheelers which is ready for launch. He added that it will eventually start producing electric buses, trucks and cars in the future.

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