NexGen Energia, a sustainable energy solutions firm based in Noida, has announced plans to invest Rs 1,000 crore in establishing a manufacturing unit for electric vehicles (EVs) in Jammu and Kashmir. The company is currently in discussions with authorities in the Union Territory and is seeking 100 acres of land, either in the Kathua industrial area or in the Kashmir Valley.
This investment follows the recent announcement of a Rs 3,000 crore investment for setting up a Compressed Bio Gas (CBG) plant in Gujarat.
NexGen Energia's chairman, Piyush Dwivedi, emphasized the company's commitment to the "Make in India" initiative and the goal of achieving self-reliance. He stated that in collaboration with the government, the EV plant in Jammu and Kashmir will require an investment of Rs 1,000 crore and is expected to provide direct and indirect employment opportunities to about 100,000 people. Additionally, Dwivedi mentioned that the company plans to launch its most affordable electric two-wheeler priced at Rs 36,900 from its Noida unit on April 15.
Last week, Dwivedi met with Union Minister for Road Transport and Highways Nitin Gadkari to discuss proposals for sustainable energy solutions, including increasing the use of CBG and promoting India-made EVs.
NexGen Energia has a range of EVs, including two-wheelers and three-wheelers, ready for launch. The company aims to expand its production to include electric buses, trucks, and cars in the future.
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