Gensol Drives into Gujarat with Rs 2,000 Crore EV Plant!

Gensol Engineering is slated to invest Rs 2,000 crore in the establishment of an electric vehicle (EV) manufacturing facility in Gujarat. This significant development transpired through the signing of a memorandum of understanding (MoU) during the Vibrant Gujarat Global Summit 2024, an event dedicated to investment promotion. The agreement was formalized in the presence of Chief Minister Bhupendra Patel.

The envisioned EV manufacturing plant is poised to revolutionize the industry by producing an extensive range of cutting-edge electric vehicles (EVs) spanning various segments, targeting both commercial and personal vehicle domains. This venture underscores a commitment to innovation and sustainable growth.

Anticipated to create approximately 1,500 employment opportunities in the region, this Rs 2,000 crore investment signifies a strategic move towards sustainable practices and environmentally friendly manufacturing in the state. The collaborative partnership between Gensol Engineering and the Gujarat government is expected to position Gujarat as a trailblazer in the burgeoning EV revolution.

This landmark announcement aligns with the 10th edition of the Vibrant Gujarat Global Summit, scheduled to take place from January 10-12, 2024.

News by Rahul Yelligetti