Korean EV maker to set up plant in UP, promises 10,000 jobs

A delegation from the South Korean electric vehicle manufacturing company Edison Motors met Uttar Pradesh Chief Minister Yogi Adityanath today and expressed their desire to set up a plant in the state. The delegation said the plant would provide around 10,000 jobs over three phases.

Lucknow (Uttar Pradesh): South Korean electric vehicle manufacturing company Edition Motors on Monday expressed interest in setting up its plant in Uttar Pradesh, as Chief Minister Yogi Adityanath gave assurance of full support to the company.

An Edison Motors delegation led by managing director YK Lee today met Chief Minister Yogi Adityanath at his official residence, and expressed interest in setting up a plant in the state.

The delegation said that the company would invest Rs 500-700 crore in the first phase, Rs 1,000-1,500 crore in the second, and Rs 2,000-3,000 crore in the third phase.

On his part, Adityanath assured the delegation that the state government would provide all support to the company. He added that the state government is currently amending the existing electric vehicle policy to make it more attractive for investors.

When it came to consumers, Adityanath told the delegation that Uttar Pradesh was India's most populous state, and had an extensive network of expressways and highways. He further said that a portal is also being made for investors.

Adityanath said that Uttar Pradesh and Ayodhya share an old connection, and the government is making efforts to take it further.

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Meanwhile, the delegation gave an overview of the company's history to the Chief Minister, and also said that the proposed plant would generate employment in the state.

The delegation said that around 10,000 jobs would be created - 2,000 in the first phase, 3,000 in the second, and 5,000 in the third.

Lee further stated that over 90 per cent of the spare parts would be acquired from Uttar Pradesh itself, generating business for the state's micro, small and medium enterprises (MSME) sector.

Land in being identified for the plant near Lucknow and in proximity to the Yamuna Expressway. The delegation said that they were completely satisfied by the Chief Minister's assurances and would set up their plant in the state.

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