Tamil Nadu govt to issue revised EV policy with special features

The Tamil Nadu government will announce a revised electric vehicle (EV) policy with special features that will assist in the surge of production and infrastructure development for electric vehicles. The previous AIADMK government declared an EV policy in September 2019. The revised EV policy will be formed, taking into consideration several developments taking place in the production and use of EVs. The Tamil Nadu Electric Vehicle Policy 2019 by the AIADMK government set out a concept to draw Rs 50,000 crore in investments and generate 1.5 lakh new jobs. The support measures declared cover capital subsidies, 100% road tax exemption for all kinds of EVs and State GST reimbursement. On Tuesday, The DMK government also declared several industrial projects worth approximately Rs 1,700 crore to be established across Tamil Nadu. It constitutes a ‘ready built factory’ at Nemili, in Kanchipuram district of Rs 40 crore. It will decrease the initial investment needed to begin the business and also assist in commencing the business immediately. The government will also install an integrated apparel park for Rs 400 crore in 250 acres at Kumaralingapuram in Virudhunagar district. The park is likely to generate direct and indirect employment for 15,000 people. With eco-friendly technologies, EVs and hydrogen vehicles anticipated to be of supreme importance in the future, a Future Mobility Park will be installed at Soolagiri in Krishnagiri district for Rs 300 crore. Industries Minister Thangam Thennarasu told the media that it is the first of its kind in India. A new 576 acres Sipcot industrial park will be established at Uthukottai in Tiruvallur district with a project price of Rs 250 crore. Two ethanol mills to generate 60 kilolitres every day will be installed for Rs 170 crore. The Policy Note 2021-2022 on Industries Department (Major Industries) said that Sipcot aims to build a land bank of 45,000 acres, comprising the upcoming and new industrial parks, in the coming five years with a focus on industrially backward districts. Procedures under the Tamil Nadu Acquisition of Land for Industrial Purposes Act will be simplified to facilitate the acquisition of land banks. Alternative modes of procurement like land pooling and private negotiation will be resorted to. Tamil Nadu Industrial Development Corporation’s (Tidco) Aero Hub project at the Aerospace Park in Sriperumbudur will be executed in two phases. Phase-1 is being executed with a built-up space of 3.5 lakh sq ft for Rs 230 crore and will be achieved by February 2023. National Highways Authority of India (NHAI), TIDCO, and Chennai Port Trust are developing a multi-modal logistics park on 158 acres in Mappedu village at an approximated cost of Rs 1,200 crore. TIDCO, in association with Tamil Nadu Infrastructure Fund Management Corporation (TNIFMC), has installed an Emerging Sector Seed Fund with a corpus size of Rs 500 crore to focus investment in developing sectors like Fintech and EVs. Out of the investment size of Rs 500 crore, TIDCO and TIDEL will contribute Rs 30 crore and Rs 20 crore respectively and the balance corpus of Rs 450 crore will be raised by TNIFMC. Image Source Also read: Rajasthan issues EV Policy 2021 to boost electric two-wheeler sales Also read: Odisha govt nods Electric Vehicle Policy 2021