Cosys E-Mobility will invest Rs. Rs 2,823 crore for the construction of the new plant to be built at Talegaon. The plant will produce electric three-wheelers for last mile delivery and passenger transportation.
see photosa. Thackeray, Environment Minister, Peter Keynes, President Cassis Group and others sign MoU
The Maharashtra government has announced the signing of a Memorandum of Understanding (MoU) with Cosys E-Mobility to set up a zero-emission EV manufacturing facility in the state. Caussis E-Mobility Private Limited, a joint venture (JV) company of the UK-based Caussis Group, will invest ₹2,823 crore for the construction of the new plant, which will come up in Talegaon. The plant will produce electric three-wheelers for last-mile delivery and passenger transport, and is expected to create around 1250 jobs in the state. This is the first major investment under the recently announced Maharashtra EV Policy 2021.
In keeping with its commitment to make Maharashtra a leading state in electric mobility in India, GoM & @midc_india Signed an MoU with Cosys E-Mobility to set up an EV production unit at Talegaon.
The investment of ₹ 2800 crore will create 1250 jobs and will help in climate action. pic.twitter.com/t4AAz1AH1q—Aditya Thackeray (@AUThackeray) October 1, 2021
Commenting on the development, Aaditya Thackeray, Minister for Environment, Tourism and Protocol, Government of Maharashtra, said, “Keeping in mind our commitment to make Maharashtra a leading state in electric mobility in India, the GoM and MIDC have partnered with Cassis e-Mobility. Set up an EV production unit at Talegaon. An investment of Rs 2,800 crore will create 1,250 jobs and help in climate action,” said the MoU signed for Phase 1 of the new EV plant in Talegaon. construction will be involved. However, for the second phase, Cosys E-Mobility will set up its own battery gigafactory in Maharashtra to manufacture and supply EV batteries.
Read also: Maharashtra EV Policy 2021: State incentives on electric vehicles explained
The investment will create 1,250 jobs and help climate action
The Maharashtra government had issued a comprehensive electric vehicle policy in July 2021 to encourage manufacturing of battery electric vehicles in the state. The policy provides comprehensive incentives that are spread across three broad categories – supply side, demand side and special incentives for EV charging infrastructure. To that effect, the state government has also prepared a roadmap to bring about a transition in the transport ecosystem of Maharashtra which is aimed at attracting investments.
Read also: Maharashtra EV Policy Live; Electric two-wheelers more economical
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This includes facilitating the setting up of manufacturing units and encouraging the production of electric vehicles, electric vehicle components, including Advanced Chemistry Cell (ACC) batteries and Electric Vehicle Supply Equipment (EVSE). Maharashtra’s second capital Nagpur is the first city in India to operate electric mass mobility with a fleet of 200 electric vehicles, the government says.
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