UK Based Causis Group To Invest Rs 1.25 lakh crore in UP, To Set Up Giga Factory For EV Ecosystem
UK-based electric mobility technology company, Causis Group will be investing Rs 1.25 lakh crore in UP to set up the first Giga factory to support the EV revolution. The group has signed a MoU with the UP government as a part of the UPGIS and will be investing in EV ecosystem in the state.
Talking to Businessworld at the UP Global Investors Summit, Ram Tumuluri, Chief Executive Officer, Causis Group, said, "We are excited and positive with such commitment in the EV space in Uttar Pradesh. The state government has committed to transforming modern commuting methods, and we will assist them in realising their vision through our technological expertise and years of experience."
Tumuluri further said that the company will be spreading its operations across the state, which will be giving huge employment locally.
The group has partnered with the government of Uttar Pradesh to transform mass mobility and impact the way people move and has signed an MoU worth Rs 1.25 lakh crore for investment in the EV ecosystem and EV technology park.
The commitment by the group will translate into a complete revamping of transportation into an "electric platform" by introducing over 40,000 buses in five years. CAUSIS will also invest Rs 80,000 crore in vehicle financing as part of the road map for commissioning the EV Ecosystem for mass transit in UP State and by offering products under the banner "Make in UP."
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