EESL Lines Up Rs 10K Crore towards EV Revolution in AP | CORPORATE ETHOS

EESL Lines Up Rs 10K Crore towards EV Revolution in AP

By: | March 5, 2018

March 5: In what could be seen as leap ahead in the electric vehicles terrain in India, Energy Efficiency Services Ltd (EESL) has lined up investments to the tune of Rs 10,000 crore in Andhra Pradesh. The company is also reportedly all geared up to manufacture over 1 lakh electric vehicles over the next 5 year period.

Going by a BS report, EESL will be ready with close to 10,000 electric vehicles for use by the Andhra Pradesh state government.   The initiative charted out by EESL for Andhra Pradesh also includes the manufacture of 4,000 electric chargers for various departments in the state government.

The EESL plan is said to augur well for Andhra Pradesh as a memorandum of understanding between the company and the state government would help generate more than 1.05 lakh jobs. The state government has already launched itself into action by directing the state’s energy department to prepare a comprehensive action plan to lease and use the electric vehicles in a phased manner.

The report quoting the state Chief Minister Chandrababu Naidu said the government intends to have all departments to switch to e-vehicles. Once this is done, the private sector will also be asked to follow suit.

The EESL- AP government initiative would go a long way for the fact that the world is moving rapidly towards electric transportation, When an Indian state too toes the green line, it is expected to spur the other India states also to do the same.