Nation Other News 30 Oct 2020 Aiming to be leader ...

Aiming to be leader in manufacturing electric vehicles: KTR

DECCAN CHRONICLE. | DECCAN CHRONICLE
Published Oct 30, 2020, 11:12 pm IST
Updated Oct 31, 2020, 2:48 am IST
Telangana minister K.T. Rama Rao
 Telangana minister K.T. Rama Rao

HYDERABAD:  Industries minister K.T. Rama Rao on Friday said that it was the government’s endeavour to develop Telangana state as an electric vehicle manufacturing major.

Addressing the Telangana EV Summit 2020 at MCHRD Institute here, Rama Rao said, “We invite the industry to come and make Telangana state their manufacturing base as we believe local production is the key to achieve price/performance parity and enable faster adoption of electric vehicles."

He said that Telangana state has become a leader in the sustainable and renewable energy sector, adding, “We are now among the top states in solar power generation with 4,100 MW installed capacity.”

Rama Rao explained that the government is establishing 178 charging stations and the TSRTC has already pressed into service a fleet of 40 electric buses.

He highlighted the ‘3D’ mantra - decarbonisation, digitisation and decentralisation - for sustainable development. The government would promote last and first mile connectivity for public transport, and steps will be taken for a gradual shift of public transport buses to EVs and to encourage general use of electric mobility.

The summit saw six EV firms signing MoUs with the state government for setting up manufacturing units with an investment of about Rs 3,000 crore. They include electric bus manufacturers Olectra and Mytrah Energy and three-wheeler EV manufacturer ETO motors.

Vikram Kailas, Vice-Chairman and Managing Director of Mytrah Energy, made a commitment of Rs 2,000 crore investment, and creation of 6,750 jobs. Venkateshwara Pradeep, director of Olectra, assured an investment of Rs 300 crore and employment for 3,500 personnel. ETO Motors is to invest Rs 150 crore with an employment generation of 1,500.

Raja, Gayam Auto Works, announced their plans to invest Rs 250 crore in the state, generating 1,400 jobs. Rohit Vadera, co-founder and CEO of PUR Energy, proposed to invest Rs 500 crore that would generate 1,500 jobs.

Principal secretary, transport, Sunil Sharma and principal secretary, industries, Jayesh Ranjan, actor Vijay Devarakonda, transport commissioner M.R.M. Rao were also present.

 

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