Maharashtra signs MoU worth ₹2,800 crore to set up EV production unit

The state government of Maharashtra has signed a memorandum of understanding (MoU) worth ₹2,800 crore with Causis E-Mobility Pvt Ltd to establish an electric vehicle (EV) manufacturing facility in the state, PTI reported. The state government has planned to set up this EV production unit in Talegaon, Pune.

The state's environment and tourism minister Aaditya Thackeray said that this investment worth ₹2,800 crores will also help in employment generation. “The investment will generate 1,250 employment opportunities," he was quoted in the report. He also added that MoU signed between the state government and Causis E-Mobility Pvt Ltd, which is a joint venture of the UK-based Causis Group, will help Maharashtra to become the leading state concerning the adoption of EVs in India.

The first phase of the memorandum is the establishment of the EV manufacturing unit, following which the organisation will also set up its battery gigafactory in the state to supply batteries for electric vehicles.

The state government which revealed its electrical vehicle policy in July this year has drawn a road map to bring in a smoother transition in the transportation ecosystem of Maharashtra. These include attracting investments, facilitating the establishment of manufacturing units, encouraging the production of EVs, their components and EV supply equipment. The policy also considers special incentives for EV charging infrastructure.

Maharashtra Industrial Development Corporation (MIDC) said in a statement that this MoU will enhance EV vehicle manufacturing and strategize the transition towards the zero-emission target.

(With inputs from PTI)

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