The South Korean electric vehicle maker Edison Motors will be investing almost Rs 5,000 crore to set up its production facility in Uttar Pradesh.
The company has proposed to invest Rs 500-700 crore in Phase-I, Rs 1,000-1,500 crore in Phase-II and Rs 2,000-3,000 crore in Phase-III of its electric vehicle plant.
The project is expected to create fresh employment opportunities for 5,000 people.
The state government is in the process of amending the existing electric vehicle policy to make it more attractive and competitive for investors.
Meanwhile, the company is scouting for suitable land near Lucknow and the Yamuna Expressway to zero in on the plant site.