CESL expands into electric 2,3-wheelers on World Environment Day

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State-run CESL on Saturday announced its tie up with Goa and Kerala to procure over 30,000 electric two- and three-wheelers. Convergence Energy Services Ltd (CESL) has forged key partnerships on World Environment Day in an effort to further the deployment of electric vehicles in the country, the company said in a statement.

This is the first entry into the 2W and 3W segments in the country, with solutions uniquely designed to deliver affordable financial solutions to buyers. Under the agreements, the CESL will also invest in establishing the electric vehicle charging infrastructure and monitor the use of the assets. This customer-oriented approach is designed to deliver good ease-of-use and better accessibility.

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Nilesh Cabral, Minister of Power, Environment, New and Renewable Energy, Government of Goa, said, Availability of two-wheeler EVs and its associated infrastructure can garner widespread demand and popularity, especially in a state like Goa. Additionally, CESL has entered in strategic relationships with Bharat Electronics Limited (BEL), TVS Motor Company, JBM Renewables Pvt Ltd., and Fortum India.

Under these agreements, CESL and the private companies will jointly undertake the expansion and adoption of EV ecosystem. This will entail setting up of public charging infrastructure, better technological adoption in charging, explore best practices and business models as also the availability of potential customer segments for demand augmentation. These agreements will also include development of highway and expressway Charge Point Operators. Feasibility of park and charge facility to customers across all EV segments will also be explored as part of the project.