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Gensol Engineering Limited’s shares were up by 3 per cent after its subsidiary, Gensol EV Lease Pvt. Ltd., announced winning an order for over 500 Tata Ace Cargo EVs. The order, valued at ₹75 Crore, comes from an all-electric logistics company. An initial batch of more than 20 EVs has already been leased, and the remaining vehicles will be deployed across 5 states in India - Maharashtra, Karnataka, West Bengal, Tamil Nadu, and Telangana over the next 6 months.
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Additionally, Gensol EV Lease is collaborating with customers in the PSU, last-mile delivery, and employee transportation sectors, fulfilling a leasing requirement for over 100 electric vehicles.
The shares were up by 3 per cent to ₹2050.95 at 1.21 p.m. on the BSE.
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