Essel invests Rs 1750 Cr for Electric Vehicle Charging Stations in UP

Inaugurated by PM Modi, the stations and the swapping technology are the part of Essel Group’s Essel Green Mobility Limited program. The initiative comes along an investment of Rs. 1750 crore.

To foster the use of Electric Vehicles in the country, the ESSEL Group’s Essel Infraprojects (EIL) has launched its electric vehicles charging stations and battery swapping technology in Lucknow, Uttar Pradesh.

The launch of the stations and the swapping technology is the part of Essel Group’s Essel Green Mobility Limited program. The initiative comes along an investment of Rs. 1750 crore.

PM Narendra Modi laid the foundation for the charging stations and the battery swapping technology initiative.

The project is expected to attract an overall investment of Rs. 1750 crore in a phased manner. The EIL’s project involving 250 charging stations and 1000 battery swapping points, was one of the several EV projects announced by the state authorities on July 29, 2018.

Additionally, EIL will install 25000 e-rickshaws which will generate employment of around 50,000 individuals in the state.

The project is aimed at reducing overall cost of battery charging and providing options to cut the high consumption of other non-renewable resources.

Further, the battery swapping stations are to be tracked through a mobile application. The stations will be used to swap charged batteries and would thereby increase the running time for the electric vehicles.

The project would be operational in major cities- Lucknow, Kanpur, Agra, Noida, Meerut, Varanasi, Gorakhpur, Allahabad and Ghaziabad, in the first phase followed by other cities.

Speaking on the occasion, Chairman, Essel Group Subhash Chandra said, “With the launch of this initiative, we have enhanced our association with the state and look forward to doing our bit in the government’s vision of clean mobility. The launch of EVs in a holistic manner will augment the state’s transport infrastructure and also create job opportunities.”

With an encouraging push to the project, Indian Government seems more optimistic about the use of alternative modes of mobility. It plans to make work 7 million electric or hybrid vehicles on road by 2030 under its National Electric Mobility Mission Plan.

Source: FE