Mumbai: Atulya Mittal-founded electric mobility firm Nexzu Mobility has proposed to set up a smart EV Park in Gujarat and plans to invest Rs 5,000 crore in the project over the next 10 years, the company said on Thursday. Nexzu Mobility said it has signed an initial pact (MoU) with the state government for this purpose. It also said the work on the proposed project is set to begin next year once land has been allotted to the company.
"Nexzu Mobility will invest Rs 5,000 crore over the next 10 years to set up the smart EV park in Gujarat, which is expected to generate employment for over 5,000 people," the company said in a statement.
The proposed park will serve as hub, provide comprehensive solutions for Electric Vehicle (EV) companies, professionals, owners, and users by enabling an ecosystem in a concentrated area and infrastructure sharing, among others, it said.
"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," said Mittal.
The proposed Smart EV Park will be an 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 company said.
Stating that the initial pact between the company and the Gujarat government comes as the mobility space straddles a critical juncture, Nexzu said, "EVs 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, a kind of an EV City, will provide a big boost to the development of the overall EV ecosystem, it said. "This is a first-of-kind development in the Indian EV ecosystem and has the calibre to transform the EV landscape in the country." "At this hub, we will provide support to OEMs manufacturing commercial as well as passenger vehicles across segments, along with battery manufacturers," said Chintamani Sardesai, Business Head at Nexzu Mobility.
The EV Smart Park will also support start-up entities who have a vision and technology, but lack infrastructure or mechanical engineering and operations expertise required to kickstart their operations, the company added.