South India to become EV Hub - News

Important players in the production and export of electric vehicles (EV) in India are emerging from South India, particularly Tamil Nadu. According to CBRE Research, the southern states account for 23 percent of sales and 33 percent of EV manufacturing in India. The new EV policy in Tamil Nadu intends to draw in investments and create more than 1 lakh jobs in the industry.
The region has a strong supply-chain environment, making it simple to acquire components locally for manufacture and assembly, according to Praneet Gupta, Partner, Bain & Co. India. In terms of cost and time effectiveness, that is a significant benefit.
Important investments from well-known businesses like Ola, Hyundai, Ather, TVS Motor, and Greaves Electric Mobility have already been made in Tamil Nadu. A staggering US$2.4 billion has been put aside by Hyundai alone to build an EV assembly factory in Chennai with a 75,000-car capacity annually.
The state's commitment to obtaining approximately US$6 billion in investments and generating 1.5 lakh employment in the EV sector over the course of the following five years demonstrates its desire to establish itself as a major center for EV production.