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NexGen Energia, a sustainable energy solutions company, plans to invest ₹1,000 crore in Jammu and Kashmir to establish an electric vehicle manufacturing plant. The company said it is presently searching for a 100-acre plot of land in the Kashmir Valley or the Kathua industrial area and is in discussions with the Union Territory authorities. The company recently announced that it is investing ₹3,000 crore to establish a Compressed Biogas (CBG) plant in Gujarat.
“Along with ‘Make in India’, we are on the way to fulfil the dream of self-reliant India. We will establish an EV plant in Jammu and Kashmir in collaboration with the government in which we will invest ₹1,000 crore,” said NexGen Energia chairman Piyush Dwivedi.
“The manufacturing unit will provide direct and indirect employment to about 1 lakh people and we aim to launch NGE’s most affordable electric two-wheeler on April 15 next month for just ₹36,900 from our Noida unit,” he said.
The NexGen Energia chairman said last week he met with Union Minister for Road Transport and Highways Nitin Gadkari at his Delhi office, where the company presented its proposals for sustainable energy solutions, such as increasing the use of CBG and India-made EVs.
The company has a range of EVs, two-wheelers, and three-wheelers ready for launch. It said it will eventually start producing electric buses, trucks, and cars.
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