On the morning of February 28, the stock of Gensol Engineering Limited rose by 7 percent to reach Rs 1,270. This increase followed the certification and approval received by the company’s subsidiary, Gensol Electric Vehicles, for its electric vehicle from the Automotive Research Association of India (ARAI).
This development is significant as it clears the way for the official launch and sale of the electric vehicle in the Indian market. The company stated, “This certification marks the completion of the vehicle homologation process, which involves testing the vehicle in controlled lab environments and on various types of terrain.”
The new modern electric car, part of the broader goal of reducing carbon emissions in transportation, will be produced at a new plant in Chakan, Pune. The plant has an annual production capacity of 30,000 cars. The compact two-door, two-seater electric vehicle comes equipped with features such as a moonroof, ample boot space, in-cabin driver assistance technology, a comprehensive technology stack, and AI-driven cloud analytics.