LUCKNOW: With an intent to turn the state an Electric Vehicle (EV) manufacturing hub, the Uttar Pradesh government has signed pacts worth Rs 6,000 crore related to EVs and related infrastructure.
Prominent among the companies that evinced keen interest in investing in the sector is Hinduja group, which has agreed to set up a Rs 1,000-crore EV manufacturing plant on a 100-acre land. Besides, Adani group and Tata group have signed memoranda of understanding (MoUs) with the state government at a round-table conference on Friday.
Uttar Pradesh has the highest number of electric vehicle registrations and the state accounts for around 25 per cent of the total EVs on roads in the country. As of February 2023, around 4,15,000 EVs were operating on the state’s roads.
Speaking at the round table conference, state industrial development minister Nand Gopal Gupta Nandi assured the investors of all help. He offered 250-acre vacant land of BPCL in Prayagraj to the Hinduja project.
“Our state-of-the-art policies, in line with the UP EV Manufacturing & Mobility Policy 2022, are designed to attract investments, promote sustainable transportation solutions, and create a thriving ecosystem for electric vehicles and associated industries,” he said.
Hinduja Group demonstrated an upfront investment intent ranging from Rs 500 crore to Rs 1,000 crore.
Adani Group expressed intent to build an extensive charging infrastructure network with an investment proposal of around Rs 1,000 crore over a span of five years. Their primary focus areas encompass 17 key cities and significant tourist destinations, spanning 700 km from Agra to Prayagraj and other expressways.
Similarly, E-Risha was interested in setting up EV parks spanning over 300 acres of land, with an initial investment of Rs 500 crore staggered over three years, followed by an additional Rs 1,000 crore over the subsequent seven years.
Prominent among those who attended the round table meeting are Ramkrishna Singh of Tata Group. He assured that Tata Power was ready to play an important role in setting up EV charging infrastructure in UP. Mahesh Babu, MD & CEO of Switch Mobility (Hinduja Group), said Hinduja group would be happy to work in UP’s EV sector.