Business News/ Companies / News/  Goyal Aluminiums plans 200 Cr investment to set up EV plant in UP

Goyal Aluminiums has plans to invest 200 crore to set up an electric vehicle (EV) manufacturing plant in Uttar Pradesh.

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

"Goyal gearing up to set up a new electric vehicle manufacturing plant with an investment of 200 crore," a company spokesperson told PTI on Wednesday.

Recently, the company announced its foray into the EV segment through newly incorporated venture Wroley E India.

"Low-speed and electric scooters will only be produced for the domestic market. The company has already received clearance from Central Institute of Road Transport (CIRT) to launch the first high-speed electric scooter in April this year," the spokesperson said.

GNIDA has allotted to the company plot number 283 measuring 4,000 square metre in its industrial area on lease for a period of 90 years.

The company plans to engage 150 dealers in the EV segment by 2024.

This story has been published from a wire agency feed without modifications to the text.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Updated: 29 Mar 2023, 02:11 PM IST
Next Story
Recommended For You
Get alerts on WhatsApp
Set Preferences My Reads Watchlist Feedback Redeem a Gift Card Logout