Zhuhai Yinlong plans to set up an EV production plant in Punjab; aims to run electric cars and buses in Amritsar
China based lithium-ion battery manufacturer Zhuhai Yinlong New Energy Ltd. is gearing up to set up an electric vehicle manufacturing plant in Punjab. The company aims to run electric cars and buses in Amritsar as a pilot project and at later stage in cities like Jalandhar and Ludhiana. Interestingly, this is going to be first such production plant by any foreign company in the country.
China is known for being the home of several electric vehicle manufacturers and considering India’s ambitious strategy to adopt all-electric mobility by 2030; several Chinese companies are eyeing to grab a sizeable share in the country’s EV market. Zhuhai Yinlong is one of them.
The Chinese company has already discussed the project with Punjab government and as it seems, the firm could start setting up its EV production plant soon. The project will be launched in similar way happened in Gujarat and Andhra Pradesh. These electric cars and buses will run as leased vehicles and these are expected to build an environment friendly transport system in those cities helping them in becoming smart cities.
Interestingly, Indian government is also planning to set up a state-run battery production plant in the country that will cater various automakers to sell EVs. The entire strategy is being put up as per NITI Aayog’s suggestion in the three year agenda document released in April this year. Under this strategy, government is focusing more on zero emission electric vehicles instead of hybrid models.
India being one of the largest automakers in the world has immense potential for electric mobility. Currently Mahindra & Mahindra is the only operator in the EV segment of the country. But, in near future the market share of electric vehicles are expected to grow fast, as several automakers like Tesla, Volvo are aiming to roll out their EV models here.