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

Chennai, Coimbatore, Tiruchirappalli, Madurai, Salem and Tirunelveli to be developed as EV hubs as part of Tamil Nadu's accelerated drive to become a global EV manufacturing hub.

Autocar Pro News Desk By Autocar Pro News Desk calendar 16 Jun 2023 Views icon8495 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

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.”

Hyundai India ramping up EV portfolio, eyes leadership in the long run

EV sales in India: 1.97 million of 2.5 million units since 2014 sold in past 29 months

EV sales in India surpass 150,000 units for the first time in May

Electric two-wheeler retails hit record 104,750 units in May before slashed FAME subsidy kicks in

Sterling Tools wants 40% sales from EV biz by FY25

auther Autocar Pro News Desk calendar14 Apr 2024

This boost is expected from the EV business mix, a part of the company’s strategy to diversify its operations.

Driving EV business with agility and flexibility

auther Autocar Pro News Desk calendar14 Apr 2024

CEOs from the EV startup ecosystem met in Bengaluru and Pune to discuss the challenges and business opportunities.

'E-3wheelers not aspirational, but make money': Amit Singh, head, 3W division, Altigreen Propulsion Labs

auther Autocar Pro News Desk calendar14 Apr 2024

The challenges are more ground-driven in terms of the availability of electricity, and how to make it more economical, a...