Tamil Nadu EV policy seeks to attract Rs 50,000 cr, create 150,000 jobs

Venture fund for start-ups in this space, 100% reimbursement of SGST on EV sales, zero electricity tax are some of the measures set out in the policy

The Tamil Nadu government hopes to attract investments worth Rs 50,000 crore in the electric vehicle space, while establishing the state as a hub for these vehicles by developing an EV ecosystem. The state, which unveiled a new EV policy today, also seeks to create 150,000 new jobs.

Motor vehicle registrations in Tamil Nadu have risen 12.4 per cent a year to over 27.7 million in 2019 from 321,000 in 1981. EV penetration at the end of phase-I of FAME remained low. According to the policy document released by Chief Minister K Palaniswami, a dedicated strategy is needed to address