Renewable energy stock, Gensol Engineering arm launches its first EV at Bharat Mobility Expo

Gensol Electric Vehicles Pvt. Ltd. (GEVPL), a subsidiary of Gensol Engineering Ltd., is thrilled to announce the debut of its first electric vehicle, EZIO, at the Bharat Mobility Global Expo 2025. The event will take place from January 17 to 22, 2025, at Bharat Mandapam in New Delhi. 

EZIO is a compact, 2-door, 2-seater electric vehicle that combines advanced technology with sustainability and space efficiency. This launch marks Gensol Electric’s entry into the electric vehicle sector, providing a future-ready solution for urban mobility that aligns with India’s decarbonization goals.

In the trading session on Monday, Gensol Engineering Limited’s share price increased by 3.19 percent, reaching an intra-day high of Rs. 771.10 per share, up from the previous close of Rs. 757.95. Although the price has since retreated, it currently trades at Rs. 762.85 per share.

Additionally, a solar company witnessed a 2 percent rise in its stock following the unveiling its first electric vehicle, EZIO, at the Bharat Mobility Expo. This development signifies a significant step in the company’s diversification into the electric vehicle sector, showcasing its commitment to sustainable mobility solutions.

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Gensol Engineering Ltd. has an unexecuted order pipeline worth Rs.3,400 crore, with contracts under award totaling over Rs.2,000 crore. Additionally, the company has total renewable revenue visibility exceeding Rs.8,300 crore, reflecting strong future growth prospects in the sector.

Gensol Engineering operates in solar EPC, EV Leasing, and EV Manufacturing. Solar EPC contributes 82.66 percent of revenue, EV Leasing 16.96 percent, and other segments 0.37 percent. EV sales have not yet commenced. 

Gensol Engineering Limited is a leading company in the renewable energy sector, focusing on solar energy solutions and electric mobility. It specializes in engineering, procurement, and construction (EPC) services.

 

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