TN hosts round-table conference to woo $6bn investments in EV sector

 

CHENNAI:
Tamil Nadu government in partnership with World Economic Forum is working on strategies on make the state a global leader in electric vehicle (EV) manufacturing and setting a target to woo $6 billion in investments and generating 1.5 lakh new jobs in the next five years.

During a closed-door roundtable discussion chaired by the Industries, Investment Promotion, and Commerce Minister Dr TRB Rajaa, the focus was also on adapting Tamil Nadu’s robust automobile and auto components manufacturing ecosystem to embrace EV manufacturers.

The event which brought together CEOs, senior leaders from more than 20 major global Electric vehicles (EV), EV component manufacturers, and government officials also focussed on paving the way for net-zero manufacturing in the EV sector and expanding opportunities for MSMEs and entrepreneurs within the EV sector.

Speaking during the occasion, Dr  Rajaa highlighted the revised "Tamil Nadu Electric Vehicles Policy 2023", which incentivizes and attracts investors to strengthen the State's flourishing EV ecosystem. Six cities, including Chennai, Coimbatore, Tiruchirappalli, Madurai, Salem, and Tirunelveli, he said, have been earmarked for development as EV hubs to hasten Tamil Nadu's rise as a global EV manufacturing hub.

Gopalakrishnan CS, Chief Manufacturing Officer, Hyundai Motor India Ltd., said that Hyundai will be a committed partner to realize Tamil Nadu's vision to become a preferred EV hub in the country. "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," he said.

Over the last five years, Tamil Nadu has emerged as India's leading EV manufacturing destination, earning the moniker' 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.

Industries secretary S Krishnan, Home secretary P Amudha, Managing director of Sipcot  E Sundaravalli, Guidance managing director and CEO Vishnu Venugopalan, FaMe Tamil Nadu executive director Grace LalrindikiPachuau;  managing director of Tamil Nadu Skill Development corporation J Innocent Divya; CEO of Tamil Nadu Startup and Innovation Mission Sivarajah Ramanathan; Lead, Moving Emerging Market, World Economic Forum Jasmeet Khurana and Lead, Moving India, World Economic Forum Pramoda Gode, a release from Guidance Department stated.