A global player from China is highly attracted by Tamil Nadu EV policy and it is none another than BYD China. Yes, BYD China to electrify Tamil Nadu and the state government to sign a MoU with the firm soon.
BYD China to electrify Tamil Nadu
Tamil Nadu’s electric vehicle policy has attracted global players including those from China. About nine new MoUs with various companies, including BYD China, would be signed as part of the initiative to industrialize the state.
According to some close sources, China’s BYD (Build Your Dreams) Group’s Indian arm is likely to invest Rs. 700 crores in a mobile component’s facility in Sriperumbudur.
In October, Zhang Jie, executive director of BYD India, called on Chief Minister Edappadi K. Palaniswami and discussed the firm’s investment plan in the State. According to the plan, BYD will invest in electric vehicles and mobile handsets in Sipcot, Oragadam and Sriperumbudur, and will provide job opportunities.
BYD Group, China, is one of the largest EV manufacturers and recently it has launched its T3 MPV and T3 minivan in India.
The Tamil Nadu Electric Vehicle Policy 2019 aims to create a constructive EV ecosystem in the state. It has also developed a strategy to make Tamil Nadu the preferred destination for EVs and component manufacturing units, including battery and charging infrastructure.
In the TN EV policy 2019, the support measures announced which include 100 per cent road tax exemption for all types of EVs, capital subsidies, reimbursement of State GST, subsidy on land cost and special incentives for job-creating EV projects.
The new MoUs will be signed in the presence of Mr. Palaniswami on this Saturday. Besides inaugurating new investment projects, the CM will launch Apex Skill Development Centres on the occasion.
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