Gensol Engineering, a company that works in renewable energy and electric vehicles, announced on Tuesday that they plan to spend 2,000 crore rupees to build a factory for making electric vehicles in Gujarat. They signed an agreement with the Gujarat government to do this, as a way to attract more investments for the Vibrant Gujarat Global Summit in 2024.
During the Vibrant Gujarat Global Summit 2024, the Memorandum of Understanding was signed with Gujarat’s Chief Minister, Bhupendra Patel.
The construction of this new factory is not just about manufacturing; it’s also a boon for local employment. Approximately 1,500 green jobs are expected to be created, contributing to the region’s sustainable development.
Anmol Singh Jaggi’s Vision for EV Revolution
Anmol Singh Jaggi, co-founder of Gensol Group said “We extend our sincere gratitude to the Government of Gujarat for their invaluable collaboration and support. Our profound thanks for fostering an environment that aligns with our vision for revolutionising the ever-growing EV landscape. The Rs 2,000 crore investment stands as a testament to our confidence in the state’s commitment to sustainable growth and green manufacturing. We look forward to a mutually beneficial partnership that propels Gujarat to new heights in the EV revolution.”
The company plans to build a new electric vehicle (EV) factory. This factory will be very creative and make many different kinds of advanced electric vehicles. These vehicles will be for both business and personal use. The 10th Vibrant Gujarat Global Summit is going to happen from January 10 to 12, 2024.
Additionally, Gensol Engineering announced its first big step into the EV market. They were ready to start producing an electric three-wheeler. This wasn’t just any three-wheeler; it was designed to be affordable, efficient, and perfect for India’s bustling streets. The vehicle, expected to cost around Rs 6 lakh, promised a range of 200 km, making it an attractive option for those looking to switch to greener transportation. The manufacturing facility, located in Chakan, Maharashtra, was set to produce 30,000 units annually.
Beyond Three-Wheelers: Launching an Electric Car
But Gensol’s vision was larger than just three-wheelers. In March 2024, they teased the launch of their first electric car. This car is more than just a vehicle; it’s a symbol of their goals. It can go over 200 km on a single charge, has a top speed of 80 kmph, and is fun to drive. It has many new features like a moonroof, the biggest trunk space, driver-help technology inside the car, and AI-based cloud analytics. This car is made for the future and shows Gensol’s dedication to sustainable and innovative ways to travel.