Goyal Aluminiums has plans to invest Rs 200 crore to set up an electric vehicle (EV) manufacturing plant in Uttar Pradesh.
The company has been allotted 4,000 square metre land from the Greater Noida Industrial Development Authority (GNIDA) for the project.
"Goyal Aluminiums...is gearing up to set up a new electric vehicle manufacturing plant with an investment of Rs 200 crore," a company spokesperson told PTI on Wednesday.
Recently, the company announced its foray into the EV segment through newly incorporated venture Wroley E India.
"Low-speed and electric scooters will only be produced for the domestic market. The company has already received clearance from Central Institute of Road Transport (CIRT) to launch the first high-speed electric scooter in April this year," the spokesperson said.
GNIDA has allotted to the company plot number 283 measuring 4,000 square metre in its industrial area on lease for a period of 90 years.
Uttar Pradesh Police arrests 11 for using unfair means in PET 2022
UP govt likely to table supplementary Budget in today's Assembly session
SMEV seeks extension of subsidies for EVs under FAME-II in Budget
Uttar Pradesh legislature's budget session to commence from February 20
Tata Motors to operationalise Ford's Sanand unit in Gujarat in 12-18 months
Dedicated mfg unit, two launches in FY24 form part of HMSI's grand EV plan
ZEEL, IndusInd Bank settle dispute paving way for Sony-Zee merger
Hindustan Zinc dividend record date today; company's shares in the red
We have no exposure to troubled banks in the US: Blackstone-backed Mphasis
CRISIL revises outlook on Vedanta's loans from 'stable' to 'negative'
The company plans to engage 150 dealers in the EV segment by 2024.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)