Goyal Aluminiums to Set Up Rs. 200 Crore EV Plant in Greater Noida, Plans to Engage 150 Dealers by 2024

Goyal Aluminums plans to invest Rs. Establishing an electric vehicle (EV) manufacturing plant in Uttar Pradesh at a cost of Rs 200 crore.

The company has been allocated 4,000 square meters of land from the Greater Noida Industrial Development Authority (GNIDA) for the project.

“Goyal Aluminums… is preparing to invest Rs 200 crore to set up a new electric vehicle manufacturing plant,” a company spokesperson told PTI on Wednesday.

Recently, the company announced its entry into the electric vehicle space through its newly formed joint venture Wroley E India.

“The low-speed electric scooters will be produced only for the domestic market. The company has obtained permission from the Central Research Institute of Road Transport (CIRT) and will launch its first high-speed electric scooter in April this year,” the spokesperson said.

GNIDA has allocated to the company its industrial zone plot No. 283 with an area of ​​4,000 square meters and a lease term of 90 years.

The company plans to hire 150 dealers in the electric vehicle segment by 2024.

Last week, Union Road Transport and Highways Minister Nitin Gadkari said that more than 2.78 lakh electric vehicles have been registered in the country by 2023.

In a written reply to the Lok Sabha, Gadkari said Andhra Pradesh and Madhya Pradesh are migrating to the Vahan portal and hence their electric vehicle registration data is partially included, while Telangana and Lakshadweep’s data is not available on the portal.

Data from the portal shows that electric vehicle (EV) registrations in India increased from 3,29,808 units in 2021 to 10,20,679 units in 2022.