300 electric vehicles from Gensol Engineering for a period of five years :-
In April of this year Gensol Engineering stated to CNBC TV-18 that it planned to produce 10,000 to 12,000 electric vehicles. From its EV production facility during the current fiscal year. Following the company’s subsidiary’s receipt of an order worth Rs 115 crore to deliver electric vehicles on lease for a term of five years shares of Gensol Engineering Ltd. briefly reached a 5 percent upper circuit on Wednesday.
According to Gensol Engineering company has obtained a letter of intent (LoI) from the Odisha. Renewable Energy Development Agency (OREDA) to offer 300 electric vehicles. On a five-year operational lease along with fleet management services.
The business disclosed that it had obtained a LOI from OREDA. In July For its subsidiary Gensol EV Lease Pvt Ltd Gensol Engineering. Took part in this tender and was chosen as the winning bidder. Excluding taxes the total billing amount for the tender was Rs 115 crore.
