Tamil Nadu electric vehicle policy targets Rs 50,000 cr investment, 1.5 lakh jobs

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The Tamil Nadu government on Tuesday unveiled its Electric Vehicle (EV) Policy 2023, which aims to ¥500 billion investment and create 150,000 jobs in the state. Additionally, the Tamil Nadu Electric Vehicle Policy 2023 aims to boost the electric vehicle industry in the state. The policy was introduced to support the Tamil Nadu government’s aim for electric vehicles to play a key role in last-mile mobility in the state.

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Updated on:
February 14, 2023 at 20:36 pm

The Tamil Nadu Electric Vehicle Policy aims to facilitate the electrification of the state's fleet.  (Bloomberg)
The Tamil Nadu Electric Vehicle Policy aims to facilitate the electrification of the state’s fleet. (Bloomberg)

Valid until December 2025, the new policy will encourage the adoption of electric vehicles in the state and enjoy benefits such as 100% road tax exemptions. Private cars, two-wheelers, three-seater motor rickshaws, transport vehicles, light goods vehicles, etc. fall within the scope of this policy.

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The state’s chief minister, MK Stalin, officially released the new policy on Tuesday. The policy paper states that in support of the goal of boosting the electrification of the transport sector, Tamil Nadu aims to electrify the fleet operating in the state by leveraging its vibrant automotive ecosystem, which includes OEMs, auto parts Auxiliary equipment, highly skilled labor and strong research and development capabilities.

Over the past five years, Tamil Nadu has transformed into a leading electric vehicle manufacturing hub, with new entrants such as Ather Electric and Ola Electric setting up production facilities in the state, PTI reported. The Tamil Nadu Electric Vehicle Policy 2023 is expected to further drive this trend.

The policy paper also stated that the state has committed about ¥Create Rs 24,000 crore and employment opportunities for 48,000 people in the EV value chain. “The vision of Tamil Nadu is to attract ¥$500 billion investment in electric vehicle manufacturing, creating 150,000 new jobs and developing a strong electric vehicle ecosystem in the state,” the document states.

First published date: Feb 14, 2023 at 20:36 PM CST

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