Tamil Nadu’s EV manufacturing investments crosses ₹40,000 crore.

The Tamil Nadu government seeks to attract $6 billion in investments and create 1.5 lakh jobs in the electric vehicle (EV) sector in the next five years as the State projects itself as a global destination for EV manufacturing.

This was indicated by the State Minister for Industries, Investment Promotion and Commerce, TRB Rajaa, during a roundtable discussion on ‘Tamil Nadu: Making of the Next Global EV Manufacturing Hub’ with investors and other stakeholders from the EV industry on Friday.

The State is already at the forefront of attracting investments in EV manufacturing and associated sectors. It is reported to have secured cumulative investments of about ₹43,000 crore in this segment.

The new EV policy, the Tamil Nadu Electric Vehicles Policy 2023, with a host of new incentives, was launched with the intent of securing huge investments. “Six cities, including Chennai, Coimbatore, Tiruchirappalli, Madurai, Salem, and Tirunelveli have been earmarked for development as EV hubs,” said Raaja.

“The CEO-Ministerial Round Table is a follow-up since the policy launch in March to enable Tamil Nadu to become a global EV hub,” Vishnu Venugopalan, IAS, MD, and CEO, Guidance, told businessline.

The closed-door meeting, organised by the State Government in partnership with the World Economic Forum (WEF), brought together CEOs, senior leaders from more than 20 major global EV makers, EV component manufacturers, and senior government officials.

“I discussed permits for electric three-wheelers, the development of a charging ecosystem in the State, the manufacturing ecosystem, public-private partnerships for technical skills and collaboration between industry and institutes,” Founder and Chairman of Omega Seiki Mobility, Uday Narang, who attended the roundtable today, told businessline.

Omega Seiki is in talks with the Tamil Nadu government for setting up its electric three-wheeler factory.

HBL