Make in India: Korean EV maker Edison Motors to invest Rs 5,000 crin UP
In the midst of a pandemic, Indian government is pushing initiatives like ‘Make in India’, which will enable economy revival. The push is going to foster growth of domestic manufacturing in the country.
According to reports, South Korean EV maker Edison Motors is planning to invest and the electric bus maker held a meeting with Uttar Pradesh’s CM Yogi Adityanath. During this meeting the MD of the company, YK Lee, conversed with Yogi and discussed the various aspects of this association. The entire process of setting up a plant in UP will be completed in three phases, as per reporst. An investment of more than Rs 5,000 crore will be made by Edison Motors. The investment is going to be in phases and Edison motors is likely to hire more than 5,000 people in its factory.
The investment will help in the Make in India initiative and also generate employment for the Indian state of UP. The CM too has been keen on resisting the electric vehicle policy to provide more incentives to future investors. UP is as it is rich in skilled as well as unskilled labour. There is also the fact that there are so many open spaces wherein a factory can be easily set.