The Maharashtra government has inked its first major investment as part of its dynamic EV Policy.
02 Oct 2021 | 13933 Views | By Autocar Pro News Desk
The Maharashtra government, which unveiled a dynamic electric vehicle policy in July this year, has inked its first major investment under the policy. On October 1, the government signed a memorandum of understanding with Causis E-Mobility.
The UK-based EV start-up is to invest Rs 2,800 crore in ...
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The Maharashtra government, which unveiled a dynamic electric vehicle policy in July this year, has inked its first major investment under the policy. On October 1, the government signed a memorandum of understanding with Causis E-Mobility.
The UK-based EV start-up is to invest Rs 2,800 crore in the EV manufacturing plant and will likely generate 1,250 jobs.
Aaditya Thackeray, Maharashtra’s minister of Environment & Tourism, tweeted: “Taking our commitment to make Maharashtra the lead state in electric mobility in India, government of Maharahtra and MIDC signed an MoU with Causis E-Mobility to set up an EV production unit in Talegaon. The investment of Rs 2,800 crore generates 1,250 employment and will help in climate action.”
Phase two of the project will see Causis E-Mobility set up its own battery gigafactory, which is one of the aims of the Maharashtra EV Policy.
As per the EV Policy, the state government has drawn up a comprehensive roadmap to enable a speedy transition in the transportation ecosystem of Maharashtra. This is aimed at drawing investments, facilitate setting up of manufacturing units and encourage production of EV, EV components including Advance Chemisttry Cell (ACC) batteries and EV supply equipment. The EV Policy overall covers the supply side, demand side and offers special incentives for setting up EV charging infrastructure in the state.