Gensol Engineering signs MoU with Govt of Gujarat to invest Rs 2000 crore for EV manufacturing

Gensol Engineering, a renewable energy and electric mobility firm has signed an MoU (Memorandum of Understanding to invest Rs 2000 crore for the manufacturing of EVs. This comes ahead of the Vibrant Gujarat Summit, which will take place from 10-12 January.

This investment is expected to create 1,500 green jobs in the region.

Anmol Singh Jaggi, Co-founder, Gensol Group said, “The Rs 2,000 crore investment stands as a testament to our confidence in the state’s commitment to sustainable growth and green manufacturing.”

The Vibrant Gujarat Summit is expected to see participation from several industries, and also Tesla’s supposed entry is expected to be announced at the summit.

As a prelude to the Vibrant Gujarat Global Summit 2024, MoUs worth Rs 7,12,250 crore have been signed.