Hero Electric to set up mega EV plant in Rajasthan with Rs 1,200 crore investment | The Financial Express

Hero Electric to set up mega EV plant in Rajasthan with Rs 1,200 crore investment

Hero Electric has signed an MoU with the Rajasthan Government to set up its mega electric vehicle manufacturing plant. It is said to have an annual production capacity of two million units.

Hero Electric to set up mega EV plant in Rajasthan with Rs 1,200 crore investment
Hero Electric to set up mega EV plant in Rajasthan with Rs 1,200 crore investment

Hero Electric, one of India’s largest electric two-wheeler companies, has signed a Memorandum of Understanding (MoU) with the Rajasthan Government to set up its state’s mega electric vehicle manufacturing plant. The company’s upcoming EV hub will be established at an estimated investment of over Rs 1,200 crore and it is said to have an annual production capacity of two million units. 

The MoU was signed at the Invest Rajasthan summit in the presence of senior state officials and Naveen Munjal, Managing Director, Hero Electric. Hero Electric’s upcoming EV plant will be located in Salarpur industrial region and spread over 170 acres. Commercial production is expected to commence by the end of 2023. The upcoming facility is said to be equipped with modern equipment, robotics, and innovative technologies and utilize sustainable and renewable resources like solar energy. It will provide direct and indirect employment opportunities as well.

Naveen Munjal, Managing Director, Hero Electric, said, “Strengthening our commitment towards carbon-free mobility, we are delighted to announce our new manufacturing facility in Salarpur, Rajasthan. We are thankful to the Rajasthan government for their support in setting up our third greenfield plant that will help promote a circular economy in the Salarpur industrial area. This mega manufacturing facility is part of our capacity enhancement to boost EV adoption across India. It will allow the state to spearhead clean mobility solution shift and promote ecological tourism practices.”

Sohinder Gill, CEO, Hero Electric, said, “Green field facility of this mega size and large budget gives us the opportunity to introduce very energy efficient green manufacturing processes with a healthy blend of automation using robotic arms and the nimble-fingered skills of the local artisan workforce, using the clean solar energy that state provides.”

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He added, “Rajasthan government has been very proactive and positive in promoting electric mobility along with us and we would work closely with the govt to create the largest and the best electric two-wheeler manufacturing cluster in north India, that would have a complete ecosystem of ancillaries to help the overall development of the rural zones in and around Salarpur. The state is already a very popular destination for global tourism and we would endeavor to do our bit in adding the sustainability quotient in that drive.”

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