Maharashtra has signed an agreement of cooperation (MoU) worth Rs 2,800 crore with Cosys E-Mobility Pvt Ltd for the construction of Electric Vehicle (EV) manufacturing plant in the state. The state government intends to build this electric vehicle manufacturing plant at Talegaon, Pune.
State Environment and Tourism Minister Aaditya Thackeray said the investment of Rs 2,800 crore would also help in generating employment. He was reported in the newspaper as saying, “The investment will create 1,250 job opportunities.” He also said that the MoU between the Government of Maharashtra and Caussis E-Mobility Private Limited, a joint venture of the UK-based Caussis Group, will help Maharashtra become India’s top state in terms of EV adoption.
The first step of the memorandum is the creation of an electric car production unit, after which the organization will build a battery gigafactory in the state to provide batteries for electric vehicles.
The Maharashtra state government, which announced its electric car policy in July this year, has drawn up a road map to ensure a seamless transition to the state’s transport environment. These include attracting investors, making manufacturing units more accessible and encouraging the manufacture of electric vehicles, their components and EV supply equipment. The policy also considers special incentives for EV charging infrastructure.
According to the Maharashtra Industrial Development Corporation (MIDC), this MoU will improve EV car manufacturing and plan the transition to zero-emissions purpose.