Goyal Aluminiums to Invest Rs. 200 Crore to Set Up EV Plant in Greater Noida

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.

Last week, Union Road Transport and Highways Minister Nitin Gadkari said more than 2.78 lakh electric vehicles had been registered in the country in 2023 calendar year so far.

Andhra Pradesh and Madhya Pradesh are in the process of migrating to Vahan portal and hence their data on EV registration is partially included while Telangana and Lakshadweep data is not available on the portal, Gadkari said in a written reply to the Lok Sabha.

According to the data on the portal, the registration of electric vehicles (EVs) in India rose to 10,20,679 in 2022 from 3,29,808 in 2021.