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Maharashtra signs MoU worth ₹2,823 crore to manufacture electric vehicles – EQ Mag Pro

Maharashtra signs MoU worth ₹2,823 crore to manufacture electric vehicles – EQ Mag Pro

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The MoU signed with Causis E-Mobility Pvt Ltd, a joint venture of United Kingdom (UK)-based Causis Group, is expected to help Maharashtra transform it into a leading state in terms of adoption of EVs in the country, officials said.

The Maharashtra government on Friday signed a memorandum of understanding (MoU) with an automobile firm for the setting up of a zero-emission electric vehicle-manufacturing facility, which is the first big-ticket investment under the recently announced Maharashtra Electric Vehicle (EV) Policy 2021.

The MoU signed with Causis E-Mobility Pvt Ltd, a joint venture of United Kingdom (UK)-based Causis Group, is expected to help Maharashtra transform it into a leading state in terms of adoption of EVs in the country, officials said. The firm will make an investment of ₹2,823 crore and is expected to generate 1,250 jobs.

The MoU was signed for phase-1 to manufacture three-wheelers for passenger transport. The facility will come up at Talegaon, Pune. In phase-2, the automobile firm will set up its battery Gigafactory to manufacture and supply batteries for EVs.

In July, the state government had unveiled a comprehensive EV policy that aims to boost the demand for such vehicles and improve their supply through incentives. The government believes that incentives for automobile companies and subsidies for buyers will help in encouraging its manufacturing and increase demand among the buyers.

The new policy aims to electrify 10% of all the vehicles by 2025. Also, public transport and last-mile delivery vehicles will see 25% electrification under this policy. From April 2022, all new government vehicles – be it owned or leased –operating within major cities will be EVs, stated the policy.

“Taking our commitment to make Maharashtra the leading state in electric mobility in the country, the state government and Maharashtra Industrial Development Corporation (MIDC) have signed an MoU with Causis E-Mobility to set up an electric vehicle production unit in Talegaon. The investment of ₹2,800 crore will generate 1,250 employment opportunities and help in climate action,” said state environment and tourism minister Aaditya Thackeray.

The MoU for phase-1 was signed in the presence of the environment minister, industries minister Subhash Desai, minister of state for industries Aditi Tatkare, Causis Group chairman Peter Kenz, founder and director Ram Tumuluri and JV Company chairman BS Chaddha, among others.

Nagpur is the first city in the country to pilot electric mass mobility with a fleet of 200 EVs.

The use of one electric car saves an average of 1.5 million grams of carbon dioxide (CO2), which is equivalent to four return flights from Mumbai to Delhi, stated a release issued by the environment minister’s office.

Source: hindustantimes

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Anand Gupta Editor - EQ Int'l Media Network