Ola Electric, an electric vehicle manufacturer, plans to establish what it calls the world’s largest electric vehicle hub in Tamil Nadu. Karnataka, Andhra Pradesh, Telangana, Gujarat, and Uttar Pradesh were also in the running, but the investment went to Tamil Nadu. The Tamil Nadu government credited the investment in electric cars in Krishnagiri district, where it already manufactures electric two-wheelers, to its revamped Electric Vehicles Policy.
State Industries Minister Thangam Thennarasu described the large-scale investment as a reflection of industry confidence in Tamil Nadu.
The state of Tamil Nadu offered Ola the option of a capital or turnover subsidy, in addition to land and electricity benefits.
In addition to original equipment manufacturers, the state provided benefits to battery manufacturers and users in order to create an ecosystem. Users of these public electric vehicles will be receiving a 10 lakh subsidy.
The Tamil Nadu government recently unveiled its electric vehicle policy 2023, which aims to attract 50,000 crore in investments and create 1.50 lakh jobs, boosting the EV industry. Ola said in a statement Friday that the hub will be used to manufacture electric two-wheelers, cars, and battery cells, as well as housing vendor and supplier parks.
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