New Delhi: The Uttar Pradesh Government on Monday said it is set to establish Kanpur as a major hub for electric vehicle (EV) manufacturing with an investment of around Rs 700 crore.
Under the Kanpur Metropolitan Development Vision - 2030, Uttar Pradesh State Industrial Development Authority (UPSIDA) will develop a cutting-edge EV park over 500 acres near Bhimsen along the dedicated freight corridor, according to an official statement.
"With an estimated cost of Rs 700 crore, the project will be executed under the Public-Private Partnership (PPP) model and is poised to position Kanpur as a key player in India's EV ecosystem," the statement said.
"The primary objective of the EV park is to strengthen the local supply chain for electric vehicles and promote indigenous manufacturing," it added.
The park will house units for manufacturing electric motors, chassis, steel parts, and lithium-ion cells.
Facilities for assembling lithium-ion batteries, chargers, controllers, and electronic components will also be established, according to the statement.
A dedicated research and development (R&D) centre will be a vital part of the project, driving innovation and facilitating advanced product development. This R&D unit is expected to contribute not only to local progress but also to the global advancement of EV technologies, it added.
The Government believes the establishment of the EV park will not only position Kanpur as an EV manufacturing hub, but will also significantly boost the state's economy.
"Alongside the park, an integrated EV components cluster is being developed to support small and medium enterprises (SMEs) in producing parts and components. This will create fresh opportunities for local entrepreneurs, startups, and generate substantial employment," it said.
Its proximity to the dedicated freight corridor gives the park a strategic advantage in terms of logistics and connectivity. Well-connected by rail and road networks, it will facilitate smooth transportation of raw materials and finished goods, the statement added.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)