Top players, including Hinduja Group and Adani are keen to invest in UP’s electric mobility sector. According to Invest UP officials, Hinduja Group has envisioned a substantial contribution through strategic initiatives by pledging to annual procurement of 2,500 electric buses for a period of three to five years.
“The group has demonstrated an upfront investment intent ranging from INR 500 crore to INR 1000 crore,” officials said. “Likewise, the Adani Group is dedicated to building an extensive charging infrastructure network with an investment proposal of around INR1000 crore over a span of five years,” officials added. “Their primary focus areas encompass 17 key cities and significant tourist destinations, spanning a remarkable 700 km from Agra to Prayagraj and other expressways,” they said.
Officials also pointed out that Erisha-E Mobility Pvt Ltd is embarking on an impressive journey by setting up EV parks spanning over 300+ acres of land, with an investment of INR 500 crore staggered over three years, followed by an additional INR 1000 crore over the subsequent seven years.
Officials from all three had gathered in the city to participate in an EV Roundtable Conference organized by Invest UP here on Friday.
The event was chaired by minister for industrial development, NRI and investment promotion, Nand Gopal Gupta Nandi who said: “UP’s dedication to positioning itself as a leader in the electric mobility domain is way beyond claim. The state government has taken affirmative action on the count. Our state-of-the-art policies, in line with the UP EV Manufacturing and Mobility Policy 2022, are designed to attract investments, promote sustainable transportation solutions, and create a thriving ecosystem for electric vehicles and associated industries.”
Infrastructure and Industrial Development Commissioner (IIDC) Manoj Kumar Singh also held one-on-one meetings with investors to understand their requirements, while CEO, Invest UP, Abhishek Prakash, outlined key features in Electric Vehicle Manufacturing and Mobility Policy for EV purchasers and manufacturers.
The event also saw participation of industry biggies. Head-EV Charging of Tata Group, Ramkrishna Singh, said that Tata Power was ready to play an important role in setting up EV charging infrastructure. MD and CEO, Switch Mobility, Hinduja Group, Mahesh Babu said, “UP is the growth engine of India and Hinduja Group would be happy to work in UP in the EV sector”.
Minister of state, transport, Daya Shankar Singh, minister of state, industrial development, Jaswant Saini, principal secretary, industrial development, Anil Sagar, principal secretary, transport, L Venkateshwarlu, principal secretary, urban development, Amrit Abhijat, ACEO, Invest UP, Prathamesh Kumar, along with representatives of various investors were present.
