Essel Infraprojects, a section of Indias largest media company, has made an investment of 35 billion rupees, or 440m euros in electric transport. Most of the money is for the production of 1,000 electric buses, however they also plan to invest in electric rickshaws and charging and battery exchange stations in India.
According to the company, the investments and the corresponding infrastructure are expected to create around 50,000 jobs in the Indian state of Uttar Pradesh, as part of a larger transformation policy, which will stimulate infrastructure, tourism and local development.
A memorandum of understanding (MoU) with the Uttar Pradesh government has been signed. Essel Infraprojects will spend Rs3,000 on 1,000 e-buses from intrastate UP to the National Capital Region. In addition, Rs500 crore will be used for development of e-rickshaws with battery charging and swapping stations, the company said in a statement.
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