Exuding bullishness on electric mobility, the Uttar Pradesh government is looking to facilitate setting up of electric vehicles (EV) charging infrastructure across the state.
Today, UP accounts for the maximum number of registered EVs in India, which corresponds to roughly 25% of total EVs on the roads.
Now, leading Indian MNCs including Adani and Hinduja groups have evinced interest in investing almost Rs 3,500 crore in ramping up EV charging network, EV parks etc.
“Our policies including UP EV Manufacturing & Mobility Policy 2022 are designed to attract investment, promote sustainable transport solutions and create a thriving ecosystem for electric vehicles and associated industries,” UP industrial development minister Nand Gopal Gupta Nandi said here recently.
Addressing an EV summit in Lucknow last week, ‘Invest UP’ CEO Abhishek Prakash said the state policy offered various subsidies to promote the EV sector.
Meanwhile, Hinduja Group is planning for an annual procurement of 2,500 electric buses for a period of 3-5 years even as the company is mulling upfront EV sector investment of Rs 1,000 crore.
Adani Group is looking to build an EV charging network with an investment proposal of Rs 1,000 crore over a span of five years.
Moreover, Erisha has proposed to develop EV parks spanning 300+ acres in UP with an initial investment of Rs 500 crore over three years, followed by an additional Rs 1,000 crore in later stages.
In fact, Tata Power is seeking an opportunity to set up robust EV charging networks across the state.
UP chief minister Yogi Adityanath has envisioned to develop the western and central UP regions as future EV hubs.
Under the UP Electric Vehicle Manufacturing and Mobility Policy 2022, the Yogi government 2.0 is targetting to net Rs 30,000 crore of investment and generating a million job opportunities.