Essel to invest Rs 17 billion to set up EV battery charging stations

Subhash Chandra-led Essel Infraprojects (EIL) is planning to invest Rs 17.5 billion in a phased manner to set up electric vehicle (EV) charging and battery swapping infrastructure in Uttar Pradesh.

The company said in a statement that it plans to launch 250 charging stations and 1,000 battery swapping locations in 20 cities of Uttar Pradesh.

“In a massive boost to the electric vehicle segment in the country, Essel Infraprojects Ltd, an enterprise of Subhash Chandra-led Essel Group, launches its Electric Vehicle Charging and Battery Swapping Infrastructure initiative under Essel Green Mobility Ltd in Lucknow today (Sunday),” it said.

Stating that the announcement was made during the foundation stone laying ceremony by Prime Minister Narendra Modi in Lucknow, it added that this will reduce the cost of battery charging and will bring down the running cost per km at par with CNG or any other alternative fuel.

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