The Rana Group, which has business interests in diverse sectors, has announced that it will invest Rs 1,900 crore in the electric vehicle (EV) business in phases. The company has also brought on board former Indian cricket team captain Sourav Ganguly as the brand ambassador for its three subsidiaries – Erisha Agritech, Erisha E Mobility, and Erisha Edu Support.

The company has signed two MoUs with the Uttar Pradesh government to set up 100 EV charging hubs in PPP mode with an investment of around Rs 400 crore. The other MoU is for an EV park in Jhansi, which will spread over 300 acres, with an investment of around Rs 1,500 crore.

Rana Group’s Initiatives

The Rana Group has launched a range of electric two-wheelers and four different apps for smart farming, education, smart charging, and OHEO, complete solutions for EVs. The group has also opened 101 showrooms across India and started billing electric three-wheelers to end customers.

In an interview with PTI, Rana Group Chairman and CMD Darshan Singh Rana said that the company will start selling EV two-wheelers in July. The EV charging hub business is expected to start in two to three months, and the facility in Jhansi should start within six to seven months.

Fundraising Plans

The company is also in the process of fundraising at an estimated valuation of over Rs 4,000 crore. With these initiatives, the company aims to be a significant player in the EV industry and make a significant contribution to the Indian government’s efforts to promote green mobility.

With the increasing focus on reducing carbon emissions and promoting clean energy, the electric vehicle industry is witnessing a boom in India. Several companies are investing in the sector, and the government is also providing incentives and subsidies to promote the adoption of electric vehicles. The Rana Group’s foray into the EV business is a significant step towards making India’s EV ecosystem more robust and sustainable.