It also said that work on the proposed project will begin next year once the land is allotted to the company. (Photo: Bloomberg)
Atulya Mittal-founded electric mobility company Nexzu Mobility has proposed to set up a smart EV park in Gujarat and plans to invest Rs 5,000 crore in the project over the next decade, the company said on Thursday.
Nexzu Mobility said it has signed an initial compact (MoU) with the state government for this purpose.
It also said that work on the proposed project will begin next year once the land is allotted to the company.
“Nexzu Mobility will invest Rs 5,000 crore over the next ten years to set up the smart EV park in Gujarat, which is expected to generate employment for over 5,000 people,” the company said in a statement.
The proposed park will serve as a hub and provide comprehensive solutions for businesses, professionals, electric vehicle (EV) owners and users, including enabling an ecosystem in a concentrated area and infrastructure sharing, the park said.
“With its focus on clean energy and mobility, high-tech manufacturing and innovation, Gujarat is a fantastic destination for a Smart EV Park. The establishment of the park will strengthen the state's position as a hub for electric car production and support 'Make-in' production. -India, Make-for-the-World' initiative in the industry,” said Mittal.
The proposed Smart EV Park will be an industrial park with ready-to-use manufacturing facilities, common testing facilities, common R&D units, residential, educational and healthcare facilities.
It will also include facilities designed to train professionals in the latest developments in electronics, battery manufacturing, powertrains and other EV components, the company said.
Stating that the initial pact between the company and the Gujarat government comes at a time when the mobility sector is at a critical juncture, Nexzu said: “EVs are a key pillar of India's effort to reduce greenhouse gas emissions and are increasingly accepted by commercial companies and passengers. car customers.”
The Smart EV Park, a kind of EV city, will provide a major boost to the development of the overall EV ecosystem, the report said.
“This is a unique development in the Indian EV ecosystem and has the caliber to transform the EV landscape in the country.”
“At this hub, we will provide support to OEMs manufacturing both commercial and passenger vehicles across segments, along with battery manufacturers,” said Chintamani Sardesai, Business Head at Nexzu Mobility.
The EV Smart Park will also support start-up entities that have a vision and technology, but lack the infrastructure or mechanical and operational expertise needed to kick-start their operations, the company added.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
First print: December 21, 2023 | 11:49 PM IST