Rana Group To Outlay INR 1,900 Crores In EV Business
Rana Group has declared an investment plan of INR 1,900 crore in the electric vehicle business in phases.
The firm have inked two MoUs with the Uttar Pradesh government.
First is to install 100 EV charging hubs in PPP mode, and the investment will be estimated at INR 400 crore.
And, the second MoU is for an EV park in Jhansi to spread in an area of over 300 acres, and the investment will be around Rs 1,500 crore.
Rana Group introduced electric two-wheelers and four distinguish apps for smart farming, education, smart charging—for charging stations—and OHEO, complete solutions for electric vehicles, starting from assisting sales, after-sales, financing, insurance, vehicle engagement, passenger service aggregator, organising the labour for porter service, and other pertinent services.
The company also mentioned about the opening of 101 showrooms all over India and commenced billing electric three-wheelers to end customers.
The EV fleet selling EV 2 Wheelers from July this year.
Moreover, EV charging hub business is anticipated to begin in 2-3 months, and the amenity in Jhansi should commence within the time period of 6-7 months.