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Karnataka govt okays EV manufacturing projects worth Rs 22,419 cr

Tuesday, 22 Dec 2020
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The Karnataka government has approved three different investments proposals worth Rs 22,419 crore involving electric vehicle (EV) and lithium-ion battery manufacturing that have potential to create nearly 5,000 jobs opportunities. 
 
Chief Minister B S Yediyurappa -led State High Level Clearance Committee (SHLCC) cleared two proposals of Elest worth Rs 14,255 crore and Rs 6,339 crore, and a project by Hyunet worth Rs 1,825 crore. 
 
The state is also trying to get more investments into renewable and sustainable energy related projects and build the state as an EV hub and for this it has also launched a policy. 
 
SHLCC cleared the investments proposals totalling Rs 26,659 crore that have potential to generate 13,341 jobs in the state. 
 
It also cleared two large hybrid solar power projects worth Rs 4,240 crore that have potential to create employment opportunities for 8,460 people. 
 
The Chief Minister on 21 December 2020 launched the Affidavit Based Clearance system that is part of an amendment made to the state's facilitation act, to enable investors to establish their businesses without any clearances/approvals from various departments for the first three years.
 
This system is part of the state's efforts to ease regulations and attract more investments.
 
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