Rana Group, which has a diverse business portfolio, has stated that it will spend Rs 1,900 crore in the electric vehicle market in stages.
The firm has signed two Memorandums of Understanding with the Uttar Pradesh government, under which they are required to put up 100 EV charging centers in Public-Private Partnership (PPP) mode, with an expenditure of around Rs 400 crore.
Another MoU is for an EV park in Jhansi, which would be stretched over 300 acres and will cost roughly Rs 1,500 crore to build.
Rana Group introduced electric two-wheelers as well as four separate applications for smart farming, education, smart charging (for charging stations), and OHEO, comprehensive solutions for electric cars that begin with aiding sales, after-sales, finance, insurance, vehicle engagement, passenger service aggregator, vehicle engagement, organizing the labor for porter service, and other related services.
The company has announced the launch of 101 shops throughout India and has begun invoicing for electric three-wheelers. They plan to begin selling two-wheelers in July. The EV charging hub business is also slated to begin in 2-3 months, with the Jhansi facility opening in 6-7 months.
The business is soliciting funds at a valuation of more than Rs 4,000 crore, and it has signed cricketer Sourav Ganguly as a brand ambassador for its three companies, Erisha Agritech, Erisha E Mobility, and Erisha Edu Support.
This is a Syndicate News Feed; edited by Clean-Future Team