CHENNAI: Tamil Nadu’s electric vehicle policy has attracted global players including those from China, and the state government is likely to sign a Memorandum of Understanding soon.
About nine new MoUs with various companies, including BYD China, would be signed as part of the initiative to industrialise the state. China’s BYD (Build Your Dreams) Group’s Indian arm is likely to invest Rs. 700 crore in a mobile components facility in Sriperumbudur, say sources.
In October, a month after the State government unveiled its electric vehicle (EV) policy, Zhang Jie, executive director of BYD India, called on Chief Minister Edappadi K. Palaniswami and discussed the firm’s investment plan in the State. He was said to have discussed about investments in electric vehicles and mobile handsets in Sipcot, Oragadam and Sriperumbudur, and job opportunities.
BYD Group, China, is one of largest EV manufacturers, and it recently launched its T3 MPV and T3 minivan in India.
TN’s EV policy has generated lot of interest among manufacturers and it is said the policy which encourages people to adopt electric vehicles would also see several major players involve in production of vehicle.
The Tamil Nadu Electric Vehicle Policy 2019 aimsto create a comprehensive EV ecosystem in the state.
It has also chalked out a strategy to make Tamil Nadu the preferred destination for EVs and component manufacturing units, including battery and charging infrastructure.
The support measures announced in the EV policy include 100 per cent road tax exemption for all types of EVs, capital subsidies, reimbursement of State GST, subsidy on land cost and special incentives for job-creating EV projects.
Sources said the new MoUs will be signed in the presence of Mr. Palaniswami on Saturday. The CM will launch Apex Skill Development Centres besides inaugurate new investment projects on the occasion.
A new logo for Tamil Nadu Guidance Bureau and a BIZ BUDDY portal - a grievance redressal mechanism for industries would also be launched....