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TAMIL NADU, 8 July 2023: The Government of Tamil Nadu has announced that it expects to receive approximately 35% of all Electric Vehicle (EV) investments in India until 2030. This follows the plans of industry giants like Hyundai, Ola Electric, Ather, Renault-Nissan, and TVS Motor to invest in electric vehicles in the state, resulting in a total planned investment of around INR 43,000 crore, one of the largest in India.
Currently, the top three manufacturers in the EV two-wheeler segment – Ola, Ather, and TVS Motor – are based in Tamil Nadu. The state accounts for approximately 68% of total EV two-wheeler sales in India.
TRB Rajaa, the state industries minister, was cited in Business Standard report, stating that Tamil Nadu aims to attract 35% of all EV investments in India by 2030 and intends to boost local sales by enhancing infrastructure.
Rajaa explained, “We are looking at close to 30-35% of whatever investment comes to India by 2030. That is our goal. As far as Tamil Nadu is concerned, in addition to big players, new start-ups are also coming in. We have a mix of legacy and new companies, which is helping us. A large number of international players are also here, and we want to increase it going forward.” Karnataka and Maharashtra are other major states that have witnessed a rise in EV investments in recent years.
Several significant investments have been announced in Tamil Nadu’s EV sector, including Ather (INR 650 crore), Ola Electric (INR 7,614 crore), Ampere (INR 700 crore), Simple Energy (INR 2,500 crore), Hyundai Motor India (INR 20,000 crore), Renault-Nissan (INR 5,300 crore), and TVS Motor (INR 1,200 crore). To stimulate local consumption, the state is developing EV-ready infrastructure in six cities: Chennai, Coimbatore, Tiruchirappalli, Madurai, Salem, and Tirunelveli.
Rajaa emphasized the importance of charging infrastructure in public places and collaboration with the real estate sector to incorporate EV charging facilities in large-scale developments. Making Tamil Nadu EV ready involves ensuring adequate charging infrastructure throughout the state.
With its strong presence of established players, growing start-ups, and international companies, Tamil Nadu is well-positioned to become a hub for EV investments and a leader in the EV market in India. The state’s focus on infrastructure development and support from the government create a favorable environment for the growth of the EV industry, fostering a sustainable future for transportation.
