Advancing businesses that help India’s rapid transition towards a low-carbon economy has always been at the forefront of Gensol’s priorities. The Company has been taking significant steps to catapult this business on a growth trajectory. In one such significant step, the Company has managed to tap a loan of 267.79 Crores (Indian Rupees Two Hundred Sixty-Seven Crores and Seventy Nine Lakhs only) from India’s leading Financial Institution, whose proceeds will be used to expand new business vertical of Electric Vehicles (“EV business”).

Pertinently, the Company has strongly aligned itself with India’s unflagging commitment to walk down the path of carbon neutrality and has, therefore, been expanding its fleet of EV cars, since these EV cars not only contribute to reducing air pollution, but also help avoid emissions of climate change-causing Greenhouse Gases (GHG) like CO2.

As on February 2022, its fleet consists of 284 such environment-friendly cars that are plying in the Delhi NCR region. These proceeds of this loan will help the company significantly ramp up its EV cars fleet business by adding 3000 such news cars by the end of 2022

Gensol gets a sanction of INR 267.79 Crores to expand EV division