South Korean electric vehicle maker Edition Motors evinced interest in investing Rs 5,000 crore to set up its production facility in Uttar Pradesh. The company has proposed to invest Rs 500-700 crore in the first phase, Rs 1,000-1,500 crore in the second phase and Rs 2,000-3,000 crore in the third phase of its electric vehicle plant in the state.
A delegation led by Edison Motors managing director YK Lee called upon UP chief minister Adityanath at his official residence in Lucknow and expressed a desire to set up an electric vehicle plant in the state. The CM assured the delegation of providing all support. He also told them the state government was in the process of revisiting and amending the existing electric vehicle policy to make it more attractive and competitive for investors.
