Magazine : 
NexGen Energia's Rs 1,000 Cr Investment in J&K EV Manufacturing
Noida-based sustainable energy solutions firm NexGen Energia has announced plans to invest Rs 1,000 crore in establishing a manufacturing unit for electric vehicles (EVs) in Jammu and Kashmir. Currently in discussions with authorities in the Union Territory, the company is actively searching for a suitable 100-acre plot of land, considering locations such as the Kathua industrial area or the Kashmir Valley.
This significant investment follows NexGen Energia's recent announcement of a Rs 3,000 crore commitment towards setting up a Compressed Bio Gas (CBG) plant in Gujarat. Piyush Dwivedi, Chairman of NexGen Energia, highlighted the company's alignment with the 'Make in India' initiative, emphasizing their dedication to realizing a self-reliant India.
Dwivedi stated that the manufacturing unit in Jammu and Kashmir is anticipated to create employment opportunities for approximately 1 lakh individuals, both directly and indirectly. NexGen Energia aims to launch their most affordable electric two-wheeler priced at Rs 36,900 from their Noida unit on April 15th, further bolstering their commitment to accessible electric mobility solutions.
During a recent meeting with Union Minister for Road Transport and Highways Nitin Gadkari, NexGen Energia presented proposals focusing on sustainable energy solutions, including the increased utilization of CBG and domestically manufactured EVs. The company boasts a portfolio comprising a range of EV two-wheelers and three-wheelers, poised for imminent launch, with plans for expanding into electric buses, trucks, and cars in the future.
NexGen Energia's strategic investments underscore a growing emphasis on renewable energy and electric mobility, aligning with national objectives while contributing to economic development and job creation in regions such as Jammu and Kashmir.
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