TN government unveils new electric vehicles policy-2023
Chief Minister MK Stalin on Tuesday unveiled the new electric vehicles policy – 2023 with a vision to attract Rs 50,000 crore investments in the EV sector and create 1.5 lakh new jobs by offering incentives for industries and consumers.
Reimbursement of state goods and services tax (SGST), investment and turnover-based subsidy, advanced chemistry cell subsidy, electrification of public and commercial transport, and formation of electric vehicle cities are some of the features of Tamil Nadu Electric Vehicles Policy 2023.
According to the policy, the government will promote Chennai, Coimbatore, Tiruchirappalli, Madurai, Salem, and Tirunelveli as pilot cities for implementing e-mobility solutions to promote new or expansion projects in the manufacturing of EVs, its components and charging infrastructure, the state offers a one-time choice for the manufacturing units to opt for reimbursement of SGST, turnover-based subsidy, capital subsidy or special advanced chemistry cells capital subsidy.
Tamil Nadu has signed MoUs with an investment interest of nearly Rs 24,000 crore and an employment potential of 48,000 jobs in the EV value chain notwithstanding the effects of the Covid pandemic.