In an effort to support the EV industry, the Tamil Nadu government released its electric vehicle (EV) policy 2023, which intends to attract investments worth Rs 50,000 crore and create 1.50 lakh employment. At the Secretariat here, Chief Minister M. K. Stalin officially announced the new strategy in front of government representatives.
The government anticipated that battery-powered vehicles would be essential to the electrification of last-mile connections when the initiative was introduced.
According to the strategy statement, Tamil Nadu wants to electrify its fleets of vehicles by utilising its strong automotive ecosystem, which includes original equipment manufacturers, ancillaries, a highly qualified workforce, and strong R&D capabilities.
The state has evolved over the past five years into a top EV manufacturing centre, with newcomers like Ather Electric and Ola Electric having established their own production facilities.
The proposal states that Tamil Nadu has agreements in place with businesses that commit investments totaling close to Rs 24,000 crore and the possibility of creating 48,000 jobs along the EV value chain.
The proposal states that Tamil Nadu has agreements in place with businesses that commit investments totaling close to Rs 24,000 crore and the possibility of creating 48,000 jobs along the EV value chain.
With actions planned throughout the supply, demand, and ecosystem segments in this strategy, the state government hopes to address the sectoral difficulties.
“Tamil Nadu has a vision of attracting Rs 50,000 crore worth of investments in EV manufacturing, creation of 1.5 lakh new jobs, and development of a robust EV ecosystem in the State,” the document read.
The new policy shall be valid for a period of five years. It also mentioned that the government would encourage adoption of electric vehicles in the state with 100 per cent road tax exemption among others.
“100 per cent road tax exemption will be provided till December 31, 2025 for the EV battery operated vehicles — two wheelers, private cars, three-seater auto-rickshaws, transport vehicles, light goods carriers.”
Electric vehicle projects undertaken by the company would be entitled to 100 per cent exemption on stamp duty on purchase or lease of land obtained from the government. State Transport Undertaking operated buses which constitute a substantial percentage of the public transport India would be electrified through a phased augmentation and replacement plan. “The state shall endeavour to increase the share of electric buses to 30 per cent of the fleet by 2030”, the policy said.
