Chinese consortium to set up e-vehicle hub in Sanand.

A clutch of Chinese automobile companies might soon make Gujarat's Sanand an electric vehicle (EV) manufacturing hub. Weeks after Chinese President Xi Jinping's visit to India, which began from Gujarat, seven firms from that country have formed a consortium (and registered it) to set up a 200-acre EV park in the motown near Ahmedabad, at an estimated investment of $100 million.

During Xi's visit, China had committed itself to investing $20 billion in the country over five years.

Jagat Shah, chief executive officer of Ahmedabad-based international trade consulting firm Global Network, who is working closely with the Chinese companies, confirmed: 'Seven firms have come together and formed a consortium, China Electric Vehicle Consortium Pvt. Ltd. It has been registered under the Companies Act. This consortium will buy land for setting up the EV park.'

BS