The Tamil Nadu government on Tuesday unveiled its electric vehicle (EV) policy 2023 which aims to garner investments to the tune of Rs. 50,000 crore and generate 1.50 lakh jobs, in a boost to the EV industry.
Chief Minister M K Stalin formally released the new policy in the presence of government officials at the Secretariat.
The policy was launched in the backdrop of the government expecting battery operated vehicles to play a crucial role in the electrification of last mile connectivity.
“To support this goal, Tamil Nadu aims to electrify the vehicular fleets operating in the State by leveraging its vibrant automotive ecosystem comprising original equipment manufacturers, auto component ancillaries, highly skilled workforce and robust R&D capabilities,” the policy document said.
During the last five years, the state has transformed into a leading EV manufacturing hub with new entrants including Ather Electric and Ola Electric having set up their production facilities.
According to the policy, Tamil Nadu has signed memorandum of understandings with companies committing investments of nearly Rs. 24,000 crore and employment potential of 48,000 jobs in the EV value chain.
The state government is cognizant of the sectoral challenges and seeks to address these through interventions mapped out across the supply, demand and ecosystem segments in this policy.
“Tamil Nadu has a vision of attracting Rs. 50,000 crore worth of investments in EV manufacturing, creation of 1.5 lakh