Essel plans to invest Rs 1,750 cr to set up an electric vehicle charging infrastructure

Essel Infraprojects announced today that it plans to gradually invest more than Rs. 1,750 in the establishment of an electric vehicle charging infrastructure and to provide the same. battery exchange. "Essel Infraprojects Ltd (EIL), a subsidiary of Subhash Chandra led by the Essel Group, is launching an electric vehicle charging and battery exchange charging infrastructure initiative under the direction of Essel Green Mobility. Limited in Lucknow today. the company said in a statement.

As part of this project, EIL will gradually invest Rs 1,750 rupees by launching 250 charging stations, 1,000 battery exchange stations in 20 cities of Uttar Pradesh.

The announcement was made during the ceremony of laying the foundation stone by Prime Minister Narendra Modi in Lucknow.
Speaking on this occasion, Essel Group President Subhash Chandra said, "With the launch of this initiative, we have strengthened our badociation with the state and look forward to contributing to the government's vision for mobility. clean. holistically will increase the state's transportation infrastructure and also create jobs. "

The EIL project will launch the electric vehicle ecosystem effectively as EIL will also invest in the simultaneous deployment of 25,000 e-rickshaws, which will generate 50,000 jobs in the state.

Launch of electric vehicles EIL was among the various industrial projects announced in the state capital, the company said in a statement.

It will reduce the cost of charging the battery and will lower the running cost per km at par with CNG or any other alternative fuel. The project will also address the issue of last mile connectivity, which is a major stumbling block in local transportation infrastructure, the company said.

Through this project, the company aims to improve the standard of living of drivers by increasing their income.

In addition, it will offer battery replacement options every 2 km 2 that will be supported by the digital application to allow drivers to locate the nearby replacement station. The battery can be swapped in 2-3 minutes, increasing the productivity of the vehicle.

Operations will start from Ghaziabad and cover other cities, including Lucknow, Kanpur, Agra, Noida, Meerut and Varanasi.

The project will revolutionize the electric vehicle industry in the country, especially the e-rickshaw segment as drivers will not need to own any vehicles or batteries and will be able to start their business without too much trouble. Investments and without complicated documentation.