Tamil Nadu May Attract 35% of All EV Investments Till 2030
Notable because
As a leading auto manufacturing state, Tamil Nadu could play a vital role in India’s EV transition. It provides multiple incentives to promote investments as capital and turnover subsidies, reimbursements, and exemptions, all of which have helped it attract investment commitments worth INR 43,000 crore (~USD 5 billion) for EVs in the last two years alone. In comparison, India expects total EV investments worth USD 191 billion in vehicle production, battery manufacturing, and charging infrastructure by 2030.
What to look out for in the months ahead
In addition to providing manufacturing subsidies, how else can Tamil Nadu signal its EV readiness to investors, including subsidies for charging infrastructure? Will this further spur EV adoption in the state, which is currently the sixth-largest market by volume in the country, but has an EV penetration of just 4%?