Noida News: A letter of intent has been issued by the Yamuna Expressway Industrial Development Authority (YEIDA) to Neenjas Electric for a 20,000 square meter plot in Sector 8D for establishing a mega facility.
What is this Noida News all about?
Neenjas Electric, a company that facilitates the development of advanced electric vehicle charging solutions, has received a letter of intent from YEIDA. The company will invest around Rs. 169 crore in the project.
YEIDA CEO Rakesh Kumar Singh remarked that this allotment will give the much-needed boost to the ‘Make in India’ initiative. Singh added that it would also strengthen the electric vehicle infrastructure of the country. This site in Noida will be serving as an invaluable hub for expansion of the company in the segment of advanced EV technology and renewable energy storage solutions. During this project, the company will focus primarily on large-scale manufacturing of onboard EV chargers as well as solar power banks.
Officials remark that the project will solidify the position of Greater Noida as a global and reputed hub for green technology manufacturing.
