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Private Sector | Jammu-kashmir - India | PID: 202645
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Sustainable energy solutions firm NexGen Energia will invest Rs 1,000 crore in setting up a manufacturing unit for electric vehicles (EVs) in Jammu and Kashmir. The Noida-based company, currently in talks with the authorities in the Union Territory is scouting for a 100-acre land either in the Kathua industrial area or in the Kashmir Valley.
The move comes soon after the company announced Rs 3,000 crore investment for setting up a compressed bio gas (CBG) plant in Gujarat.
The manufacturing unit has the potential to generate direct and indirect employment to about one lakh people. It plans to launch the company's most affordable electric two-wheeler in April mid-month from its unit in Noida. It will eventually start production of electric buses, trucks and cars in the future.
The company, last week presented its proposals on sustainable energy solutions like increasing the use of CBG and India-made EVs to Union Minister for Road Transport and Highways, Nitin Gadkari. The company has a range of EVs two-wheelers and three-wheelers which is ready for launch.
| Updated on: 19 - Mar - 2024
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