Electric vehicle investment is increasing in India every Indian state is racing to get ahead of each other in the EV race. In the next five years, the Tamil Nadu government hopes to attract $6 billion in investments and create 1.5 lakh employment in the electric vehicle (EV) sector as the state positions itself as a global destination for Electric vehicle manufacturing.
This was said by TRB Rajaa, the State Minister for Industries, Investment Promotion, and Commerce, during a roundtable discussion on ‘Tamil Nadu: Making of the Next Global EV Manufacturing Hub’ with investors and other EV industry stakeholders on Friday.
The state is already on the cutting edge of luring investments in Electric vehicle manufacturing and related industries. It is reported that it has obtained a total investment of roughly 43,000 crore in this segment.
The closed-door meeting, sponsored by the State Government in collaboration with the World Economic Forum (WEF), brought together CEOs, senior leaders, and senior government officials from more than 20 key worldwide Electric vehicle manufacturers, EV component manufacturers, and Electric vehicle component manufacturers.
Founder and Chairman of Omega Seiki Mobility, Uday Narang stated that his company is in talk with the state government to set up its electric three-wheeler factory.
Narang stated that he emphasised the importance of having testing and approval facilities such as ARAI in Tamil Nadu. When manufacturing facilities are established here, products do not need to be approved in Pune or other locations. He also proposed an alliance structure to create a supplier cluster in the state to save expenses.
Electric two-wheeler manufacturers such as Ola Electric, Ather Energy, and Ampere Electric have established substantial production operations in Tamil Nadu, while Simple Energy has also established an electric vehicle factory. In addition, TVS Motor Company manufactures its electric scooter in Hosur.
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