Essel plans to invest Rs 1,750 Crore to build Infra electric vehicles in UP

Essel Infraprojects (EIL) announced on Sunday that it plans to invest Rs 1,750 crore gradually to install the electric vehicle (EV) charging infrastructure and battery exchange in Uttar Pradesh

In a statement, the EIL Subhash Chandra announced that & # 39; 39, it planned to launch 250 charging stations and 1,000 battery exchange sites in 20 cities of Uttar Pradesh. Essel Infraprojects Ltd, an Essel group company headed by Subhash Chandra, is launching a vehicle charging and battery exchange infrastructure initiative under the direction of Essel Green Mobility Ltd in Lucknow today. hui (Sunday) "The statement was made during the ceremony of laying the foundation stone by Prime Minister Narendra Modi in Lucknow,

EIL will also invest in the simultaneous deployment of 25,000 e-rickshaws, which will generate 50,000 jobs in the state, "he added.

This will reduce the cost of charging the battery and reduce the running cost per km at par with CNG or any other alternative fuel. 19659004] The company will also provide battery exchange options every 2 km 2 that will be supported by digital applications to allow drivers to locate the nearby converter station.

According to EIL, the battery ie can be changed in 2 to 3 minutes, thus increasing the productivity of the vehicles.

Operations will begin in 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 electronic rickshaw segment, as drivers will not need to own any vehicles or batteries and will be able to start their business without too much investment and without complicated collateral documentation. "

Essel Group President Subhash Chandra said," With the launch of this initiative, we have strengthened our badociation with the company. And we look forward to doing our part in the government's vision of clean mobility. "