Tamil Nadu minister targets US$ 6 billion investment in EVs in 5 years, meets CEOs to define roadmap

The Tamil Nadu government is committed to securing US$ 6 billion (Rs 49,482 crore) in investments and creating 1.5 lakh new employment opportunities within the electric vehicle (EV) sector over the next five years, Dr. T.R.B. Rajaa, Minister for Industries, Investment Promotion, and Commerce, Tamil Nadu stated at a closed round-table discussion on EVs held in the state today. 

In his keynote address at the closed-door discussion, held in partnership with the World Economic Forum, on 'Tamil Nadu: Making of the Next Global EV Manufacturing Hub',  Dr. T.R.B. Rajaa mentioned that the government has launched the revised 'Tamil Nadu Electric Vehicles Policy 2023', and Chennai, Coimbatore, Tiruchirappalli, Madurai, Salem and Tirunelveli have been earmarked as EV hubs to bolster the state’s growth towards electric vehicles.

Over the past five years, Tamil Nadu has emerged as India's leading EV manufacturing destination, earning the moniker of 'EV Capital of India'. Notably, during the Covid-19 pandemic, the state secured nearly Rs 24,000 crore in EV investments, leading to almost 48,000 jobs, the press release stated.

Along with leading OEMs like Hyundai, Nissan, TVS Motor Co, Mahindra & Mahindra and Daimler, EV-first companies like Ather Energy, Ola Electric, Ampere Vehicles and Simple Energy have chosen to base their EV manufacturing facilities in Tamil Nadu, underscoring the importance of the state as one that promotes the cause of EVs.

The roundtable discussion centered on the pivotal role Tamil Nadu aims to play in the global electric vehicle manufacturing landscape. Key points of discussion included strategies to expand opportunities for MSMEs and entrepreneurs within the EV sector, and net zero manufacturing in the EV sector among other points.

Top executives from EV component and EV manufacturers were part of the event hosted by the Tamil Nadu government event, in partnership with the World Economic Forum. Images: Guidance Tamil Nadu

Dr. T.R.B. Rajaa, Minister of Industries, Investment Promotion, and Commerce, Government of Tamil Nadu, S. Krishnan IAS - Additional Chief Secretary, Department of Industries, Investment Promotion, and Commerce, Government of Tamil Nadu, P. Amudha IAS - Principal Secretary, Home (Transport) Secretary, Government of Tamil Nadu and Vishnu Venugopalan IAS - MD and CEO, Guidance Tamil Nadu, were among the participants at the roundtable. 

After the session, Gopalakrishnan CS, Chief Manufacturing Officer, Hyundai Motor India said, “We believe that the upcoming action plans will drive quicker adoption of EVs while balancing measures on the supply and demand sides and charging infrastructure in the State.”

Dinesh Arjun, co-founder and CEO of EV firm Raptee said, “Tamil Nadu has already made its mark as a leader in the automobile space and I'm delighted to see that the state doesn't want to rest on it's laurels and ensure that they retain the top spot in the country moving forward as well. “ He added that this initiative is a major step to establish and strengthen Tamil Nadu’s leadership position in the EV space as well. The commitment from the government and industry leaders give immense confidence that we (Raptee) are poised to benefit a lot from investing in the state.”

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