Technology Development Council invites EV start-ups and players to submit investment proposals

Chennai, June 24

With a favorable ecosystem for EV manufacturers, Tamil Nadu is emerging as an EV hub in the country, said Hans Raj Verma, Chairman and Managing Director of Tamil Nadu Industrial Investment Corporation Ltd.

Unlike other states, Tamil Nadu has two industrial clusters of automobiles and electronics which complement and support each other. While the Sriperumbudur cluster has automotive majors such as Hyundai and Nissan and electronics majors such as Foxconn, the second to emerge is the Hosur-Krishnagiri-Dharmapuri cluster where new-era players like Ola and Ather, among others, have established their operations. The state government welcomes electric vehicle companies to settle and is ready to help them in any way possible,” he said at the 2022 Electric Vehicle Summit hosted by the Development and Confederation of Indian Industry (CII) Tamil Nadu technology promotion with the theme “Indigenizing India’s Electric Vehicle Supply Chain” here.

Support disruptive technology

Rajesh Kumar Pathak, Secretary, Technology Development Board, Department of Science and Technology, Government of India, said “The Technology Development Board seeks to fund and support disruptive technologies, including EV space.”

“We are inviting start-ups including those in the field of electric vehicles to share their proposals as a ₹1,000 crore private-public partnership model for start-up funding which would be launched shortly,” he said. he added.

Mahesh Babu, President – EV Summit and Director and CEO of Switch Mobility, pointed out that the outlook for electric vehicles is bright as the industry has seen the evolution of several trends that are defining the growth of electric vehicles. “The adoption of electric vehicles can be seen in different vehicle segments as well as business segments. The electrification of vehicles has started gaining momentum and has opened up new avenues of mobility for India. India is poised to position itself as one of the leading markets for electric vehicles,” he added.

Discussing that India is a very different market compared to other countries, V Sumantran, Director of Switch Mobility Ltd, said the potential for electrification in the two-wheeler space should be further tapped as Indians use more two-wheelers than other vehicles. “To build a stronger ecosystem, companies need to talk to each other, which results in an exchange of ideas. A consortium should be formed to help the field grow at a faster pace,” he said. .

Published on

June 24, 2022

Ruby A. Robillard