Source: Financial Express, 28 September 2023
Gensol EV Lease Pvt Ltd, a subsidiary of Gensol Engineering Limited, an EV-focused leasing solutions provider, on Thursday announced that it has bagged an order for more than 500 Tata Ace Cargo EVs. The order, it said, is valued at Rs 75 crore and is from an all-electric logistics company. An Initial batch of 20+ EVs have already been leased, with the remaining cars to be deployed over the next 6 months across 5 states in India – Maharashtra, Karnataka, West Bengal, Tamil Nadu and Telangana, the company said in a regulatory filing.
In addition, Gensol EV is working with customers in the PSU, last mile delivery and employee transportation business with a leasing requirement of 100+ electric vehicles. “These orders mark a significant step towards advancing sustainable mobility through innovative EV leasing solutions. Gensol EV Lease is steadfastly establishing itself as a pivotal player in the EV leasing sector meeting the burgeoning demand for EVs in the years ahead,” it said.
Gensol Engineering is a part of the Gensol group of companies, which offers engineering, procurement, and construction (EPC) services for the development of solar power plants. Over the years, Gensol has installed ground-mounted and rooftop solar power plants with a combined capacity of over 590 MW.