Gensol EV: Shiny Expo, Silent Factory
The dramatic unravelling of Gensol Electric Vehicle’s Pune operations—marked by no production, job cuts, and allegations of investor misdirection—offers a sobering insight into the volatile world of EV startups.
On April 9, when National Stock Exchange (NSE) officials visited Gensol Electric Vehicle's facility near Chakan in Pune, they were expecting to see a company ready to go into production in two months. Instead, they found an eerily quiet plant with barely two or three workers.
This is despite the fact that Gensol Engineering, the parent company, had informed investors of receiving ‘pre-orders’ to supply 30,000 vehicles—primarily the EZIO and EZIBOT models showcased at the Bharat Mobility Global Expo 2025. The pre-orders, as it turned out, were non-binding in nature.
“Prima facie, it appeared that the company was ...
This is an Autocar Pro Plus article. Subscribe to continue reading.
RELATED ARTICLES
Indian Automotive Market Analysis: FY2024-25
FY25 saw SUVs continue to increase their dominance over the Indian PV market, with M&M cornering 53% of incremental volu...
Infineon highlights future trends in e-bike user experience
At a recent webinar, Infineon outlined its offerings in power electronics, advanced sensor technologies, and microcontro...
Chasing 5%: Can Renault Reclaim Relevance in India’s Competitive Car Market?
Targeting full plant utilization and a 5% market share, Renault’s India reset hinges on fresh products, shared platforms...