Gensol Engineering's EV Arm Bags Rs 75 Crore Order for 500+ Tata Ace Cargo Electric Vehicles

28 Sep 2023 , 01:22 PM

Gensol Engineering’s subsidiary, Gensol EV Lease, secures a Rs 75 crore order for over 500 Tata Ace Cargo electric vehicles (EVs). The order is from an all-electric logistics company, with an initial batch of over 20 EVs already leased.

The remaining EVs will be deployed across five states in the next six months. Gensol Engineering stock rose 5% intraday in response to the news.

The company reported a 42.15% YoY increase in revenue for the April-June quarter. Gensol Engineering specializes in engineering and consulting services in the renewable energy sector, particularly solar power projects.

For feedback and suggestions, write to us at [e-mail]