Goyal Aluminiums plans Rs 200 cr investment to set up EV plant in UP

Goyal Aluminiums has plans to invest Rs 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 Aluminiums...is gearing up to set up a new electric vehicle manufacturing plant with an investment of Rs 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.