The government of Tamil Nadu is planning to set up a park exclusively for electric vehicle production eco-system.
This will be the country's first electric vehicle (EV) park. The state is targeting around Rs 50,000 crore investment in the EV segment and announced a series of incentives to attract investments in the EV space.
The government intends to attract Rs 50,000 crore investment and create 1,50,000 jobs with a comprehensive EV ecosystem in the state.
In 2019, Tamil Nadu announced a comprehensive EV policy which gives incentives and subsidies for both supply side and demand side. The policy covers the EV ecosystem with incentives to EV charging stations developers and to tap components including battery and cell manufacturing, electric motors, EV powertrains, battery management, among others.
Currently Tamil Nadu is home for nearly 20 OEMs covering all auto segments and over 350 auto component players and over 4,000 SMEs under Tier-IV in the state.
The state has got installed production capacity to produce 1.71 million passenger vehicles and 4.82 million two-wheelers every year.
During the pandemic, the state signed MoUs worth Rs 30,664 crore of which Rs 3,500 crore are from the auto sector.