The company said that it received a loan of Rs 267.79 crore from India's leading financial institution to expand its electric vehicles (EV) business.
Gensol Engineering said that it has been expanding its fleet of EV cars. As on February 2022, its fleet consists of 284 such environment-friendly cars that are plying in the Delhi NCR region.With the loan proceeds, the company plans to augment its current fleet with another 3,000 EV cars by the end of year 2022.
Gensol Engineering provides concept to commissioning solar advisory, execution and operation services for solar projects in India and abroad. It offers a one stop solution for everything solar including government policy makers, leading project developers, solar EPC companies and leading institutions.
Shares of Gensol Engineering were down 2.85% at Rs 247 on the BSE.
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