Nexzu Mobility to setup EV Park in Gujarat with Rs.5,000 crore Capital

Nexzu Mobility, founded by Atulya Mittal, has proposed establishing a smart EV Park in Gujarat and plans to invest Rs 5,000 crore in the project over the next ten years, the company announced on Dec 21. Nexzu Mobility stated that it has signed an initial memorandum of understanding (MoU) with the state government for this purpose.

It also stated that work on the proposed project will begin next year, once land is allocated to the company.

"Nexzu Mobility will invest Rs 5,000 crore over the next 10 years to set up the smart EV park in Gujarat, which is expected to generate employment for over 5,000 people," the company said in a press release.

The proposed park will, among other things, serve as a hub and provide comprehensive solutions for Electric Vehicle (EV) companies, professionals, owners, and users by enabling an ecosystem in a concentrated area and infrastructure sharing.

"With its emphasis on clean energy and mobility, as well as high-tech manufacturing and innovation, Gujarat is an ideal location for a Smart EV Park." "The park's establishment will strengthen the state's standing as an EV manufacturing hub and support the industry's 'Make-in-India, Make-for-the-World' initiative," Mittal said.

The proposed Smart EV Park will be an industrial park with ready-to-go manufacturing facilities, shared testing facilities, shared R&D units, housing, educational, and healthcare facilities.