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The company will invest INR 5,000 crore in the state over a period of 10 years.
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The project will commence in 2024.
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The Smart EV Park will be powered by renewable energy and will offer ready-to-move in manufacturing facilities, common testing and R&D facilities, housing, healthcare, and education facilities for workers and their families, warehousing, advisory services, and consultation.
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The park will also act as a knowledge hub for EV-related know-how in the fields of electronics, battery technology, power train technology, and servicing EVs.
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This landmark agreement between Nexzu and the State of Gujarat comes as the mobility space straddles a critical juncture.
Bengaluru, December 22, 2023: Nexzu Mobility, a sustainable urban transportation solutions provider, has signed a Memorandum of Understanding (MoU) with the Government of Gujarat to develop India’s first ever Smart EV Park in a move that promises to redefine the country’s mobility landscape.
The company will invest INR 5,000 crore over the next 10 years to set up the park, which is expected to generate employment for over 5,000 people. Work on the project is set to begin next year once land has been allotted to it.
This landmark agreement between Nexzu and the State of Gujarat comes as the mobility space straddles a critical juncture.
Electric vehicles are a key pillar of India’s push to slash its greenhouse gas emissions and are finding increasingly greater acceptance with commercial and passenger vehicle customers.
The Smart EV Park, harnessing all of the promise and potential of the skills and visionary policies instituted by the Government of Gujarat, will provide a big boost to the development of the overall EV ecosystem, accelerating the adoption of electric mobility.
It will act as a hub, providing comprehensive solutions for EV companies, professionals, owners, and users by enabling an ecosystem in a concentrated area, streamlining the supply chain, and enabling cross-pollination of ideas, knowledge, and infrastructure sharing.
Commenting on the signing of the MoU, Mr. Atulya Mittal, Founder, Nexzu Mobility, said, “We are excited to redefine the landscape of clean and green mobility by signing this ambitious MoU. With its focus on clean energy and mobility, high-tech manufacturing, and innovation, Gujarat is a fantastic destination for a smart EV park. The establishment of the park will strengthen the state’s standing as an EV manufacturing hub and support the ‘Make-in-India, Make-for-the-World’ initiative in the industry. With its fantastic connectivity, forward-thinking state leadership, and pioneering people, Gujarat has both the natural and human resources to become the high-tech manufacturing hub for the new EV age.”
Mr. Chintamani Sardesai, Business Head, Nexzu Mobility, said, “This is a first-of-kind development in the Indian EV ecosystem and has the caliber to transform the EV landscape in the country. At this hub, we will be providing support to OEMs manufacturing commercial as well as passenger vehicles across segments, along with battery manufacturers. The facility will also have training schools for drivers and mechanics, along with test tracks to help manufacturers with testing before homologation. The EV city will also act as an incubation hub for new-age EV start-ups with a high focus on sustainability.”
The proposed Smart EV Park will be a state-of-the-art industrial park with ready-to-move in manufacturing facilities, common testing facilities, common R&D units, housing, educational, and healthcare facilities. It will also include facilities designed to train professionals on the latest in electronics, battery manufacturing, powertrains, and other EV components. The EV Smart Park will also support start-up entities that have a vision and the technology but lack the infrastructure, mechanical engineering, and operations expertise required to kick-start their operations.
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