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NexGen Energia to Invest Over 4,000 Cr. in EV and Compressed Bio Gas

NexGen Energia Limited, a Renewable Energy (RE) company headquartered in Noida, has announced investments exceeding a total of Rs. 4,000 crore to expand its Electric Vehicle (EV) and Compressed Biogas (CBG) businesses.

Electric Vehicle Manufacturing Unit to Come Up in J&K

NexGen Energia has earmarked Rs. 1,000 crore for the establishment of an EV manufacturing unit in Jammu & Kashmir. Dr. Piyush Dwivedi, Managing Director of NexGen Energia, conveyed this information on 18th March 2024 as per the Press Trust of India (PTI).

Elaborating on this investment, Dr. Dwivedi, said, “Along with ‘Make in India’, we are on the way to fulfil the dream of self-reliant India. We will establish an EV plant in Jammu and Kashmir in collaboration with the government…”.

NexGen Energia’s EV portfolio comprises a range of Electric 2, 3, and 4-wheelers. The company also provides EV battery and EV charging solutions.

NexGen Energia’s EV Plant to Sprawl over 100 Acres, Create 1 Lakh Jobs

NexGen Energia’s newly announced EV manufacturing plant will be developed over an area of approximately 100 acres. The location of the plant has not been finalized yet and it will be developed either in Kathua industrial area in Jammu, or in Kashmir Valley. NexGen Energia’s upcoming plant will create direct and indirect employment for around 1,00,000 individuals.

NexGen Anticipates MoU with Gujarat Government for CBG Plants & EV Units

NexGen Energia is in talks with Gujarat government to invest over Rs. 3,000 crore in projects aimed at addressing air pollution caused by crop residue burning. This information was shared by the company in its recent LinkedIn post.

The company will invest the aforementioned sum for developing compressed biogas plants, EV units and related infrastructure in Gujarat. Once operational, the plants will directly supply compressed biogas to CNG pumps. NexGen has already submitted a proposal for these projects to the Gujarat government and anticipates signing a Memorandum of Understanding (MoU) soon.

About NexGen Energia Limited: NexGen Energia Ltd., founded in 2018, is a renewable energy company headquartered in Noida, India. They focus on developing sustainable solutions across electric vehicles, compressed biogas, and water management.