CHENNAI: The state government in partnership with World Economic Forum is working on strategies to make TN a global leader in electric vehicle (EV) manufacturing and is setting a target to woo $6 billion in investments, generating 1.5 lakh new jobs in the next five years.
During a closed-door round-table discussion in this regard chaired by Industries, Investment Promotion, and Commerce Minister TRB Rajaa, the focus was on adapting Tamil Nadu’s robust automobile and auto components manufacturing ecosystem to embrace EV manufacturers.
The event that brought together CEOs, senior leaders of over 20 major global electric vehicle companies, EV component manufacturers and government officials also focussed on paving the way for expanding opportunities for MSMEs and entrepreneurs within the EV sector.
Speaking on the occasion, Rajaa highlighted the revised ‘Tamil Nadu Electric Vehicles Policy 2023’, which incentivises and attracts investors to strengthen the state’s flourishing EV ecosystem. Six cities - Chennai, Coimbatore, Trichy, Madurai, Salem and Tirunelveli - he said, have been earmarked for development as EV hubs to hasten TN’s rise as a global EV manufacturing hub.
Gopalakrishnan CS, Chief Manufacturing Officer, Hyundai Motor India Ltd, said Hyundai will be a committed partner to realise Tamil Nadu’s vision to become a preferred EV hub in the country. 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 Lalrindiki Pachuau, 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 were present, a release from Guidance department said.