Karnataka eyes investments, jobs in electric vehicles segment

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SME Times News Bureau | 31 Jan, 2019
Tech-savvy Karnataka would offer incentives to attract huge investments in rolling out electric vehicles (EV), generate jobs and opportunities for research in the e-mobility segments, said a state minister on Wednesday.

"Karnataka offers incentives to manufacture electric vehicles in the state, which has potential to attract investments worth Rs 31,000 crore in the sunrise sector, create over 55,000 direct jobs and provide opportunities for research and development (R&D) in electric mobility," said Karnataka Industries Minister K.J. George at a summit on EVs.

As the first state in the country to have a policy to encourage use of eco-friendly electric vehicles with zero emission, George said the state government would have single-window clearances to be a preferred destination for attracting investors in the EV segment.

Taiwan-based Teco Electric Company president George Lien said his firm would work with Karnataka government to bring in technology to make EVs as it was in the business of energy optimization in India.

South Korean Wevio president Calvin Yi said his global firm was signing an agreement with the Indian Chamber of Commerce (ICC) for setting up a joint venture and exchange technology between Indian and Korean firms.

"We would like to help India in freeing its cities from air pollution from automobiles by encouraging Korean firms like Hyundai to make 300-km charging range EVs by this year-end in India," said South Korean Ambassador Shin Bong-Kil on the occasion.

ICC Director-General Rajeev Singh said the apex trade body would work with central and state governments across the country to attract investments and generate jobs in the EV sector.

"We plan to bring a delegation of EV and charging station makers from Japan, South Korea and Taiwan, which have a vibrant EV manufacturing ecosystem," added Singh.

As part of the summit, IBC Expo has organised a "EV 360" exhibition where automobile major Mahindra Electric, Sun Mobility, Ather Energy, E Trio, NRD Eco Motors, Jitendra Electrical Vehicle and Ampere showcased their technology and products in EV sector.