New Delhi: Gensol Electric Vehicles Pvt. Ltd. (GEVPL), a subsidiary of renewable energy firm Gensol Engineering Ltd., has introduced its first electric vehicle, EZIO, at the Bharat Mobility Global Expo 2025. The event, running from January 17 to 22 at Bharat Mandapam in New Delhi, marks Gensol’s formal entry into the electric vehicle (EV) market.
EZIO is designed to address the increasing demand for sustainable transportation solutions in urban areas. The vehicle highlights Gensol’s strategic expansion beyond solar energy solutions into electric mobility, a move aligned with India’s push toward achieving its decarbonization targets.
Stock performance reflects investor interest
On Monday, Gensol Engineering Ltd.’s stock price saw a 3.19% increase during intraday trading, peaking at ₹771.10 from the previous close of ₹757.95. The stock eventually settled at ₹762.85, reflecting investor optimism about the company’s diversification into the EV sector.
Business outlook and revenue composition
Gensol Engineering operates across three key segments: solar EPC, EV leasing, and EV manufacturing. Currently, solar EPC accounts for 82.66% of its revenue, with EV leasing contributing 16.96%, and the remaining from other segments. While EV sales have not commenced, the company’s unexecuted order pipeline stands at ₹3,400 crore, with contracts worth ₹2,000 crore under award. Gensol’s total renewable revenue visibility exceeds ₹8,300 crore, indicating strong future prospects.
Broader implications for the renewable sector
The launch of EZIO signals Gensol’s commitment to diversifying its portfolio and addressing India’s growing demand for sustainable mobility solutions. This step also reflects a broader trend within the renewable energy sector as companies explore new avenues to integrate clean energy technologies into everyday life.
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