Tamil Nadu’s Industries Minister Thangam Thennarasu says that the state is looking forward to making investments in the electric vehicle (EV) segment. He revealed that the state has already developed an e-term mobility plan and is planning to construct its very own ecosystem of charging stations as well.

In fact, the state is ready to welcome EV manufacturers such as Tesla to set its units, along with a major commitment of having Ol’s electric two-wheeler for Rs 2,354 crore, followed by TVS Electric at Rs 1,000 crore, Ather Energy at Rs 635 crore, Srivaru Motors at Rs 1,000 crore, Ampere Vehicles at Rs 700 crore and Simply Energy at Rs 350 crore.

Back in August, the state is said to have signed agreements with 35 companies and is eager to make investments of Rs.17,141 crore, thereby opening up job opportunities for 55,000 people along the way. On top of that, the state signed another 24 list of agreements for projects believed to weigh around Rs.2,121 crore. The minister added that the state has witnessed investments of about Rs.20,000 crore in the last five months while battling the second wave of the coronavirus.

Currently, Chennai is said to pose a base weighing at 30 percent regarding the country’s automobile segment and 35 percent for the automobile component segment. It has decided to invest about Rs.35 trillion by 2030 and is already busy with projects worth Rs.20,000 crore ever since the new government took charge. It’s also getting ready to establish an EV park at Manalur near Chennai.

After the country faced more blows from the second wave of COVID-19, the Minister stated that the industrial sector and exports were vaccinated on priority to ensure that they are not affected by the upcoming third wave.

The state is said to have drawn out a long-term roadmap of rising as a $ 1 trillion economy and this is planned by quadrupling its exports for the next nine years.

Furthermore, it has planned for exports around $ 100 billion by 2030 and it had rolled out an export promotion policy last month.

“By 2030, the state may generate about 2.5 million jobs. Textiles, general manufacturing, and leather are among the industries we're working on. Food processing, renewable energy, fintech, data centers, e-mobility, aerospace components, defense manufacture, and semiconductors are also being prioritized”, says Thennarasu.

These motives come at a time when the state witnessed a closure of Ford India unit, with the government assuring that it would take measures to ensure that 2,600 employees are not affected by the company’s move. It awaits a suitable decision from Stalin, adds Thennarasu and that matter is at present being monitored and is under the chief minister’s consideration.