EV policy draws Rs 3,200 cr on Day 1
To attract $4 bn investment, create 1.2 lakh jobs by 2030 in TS
Hyderabad: The comprehensive Electric Vehicle and Energy Storage (EV&ESS) policy rolled out by the State government on Friday hit the ground running with five companies signing Memoranda of Understanding promising a total investment flow of Rs 3,200 crore that would create employment opportunities for 14,650 persons in the State.
The State government, which took a giant stride to emerge as the leader in sustainable mobility and energy storage space with the EV&ESS policy, is targeting an ambitious investment attraction of US $4 billion which would lead to creation of 1.2 lakh jobs by 2030.
While Vikram Kailas, Vice Chairman and MD, Mytrah Energy, signed an MoU committing an investment of Rs 2,000 crore, generating employment of 6,750, Venkateswara Pradeep, Director of Olectra signed an MoU committing an investment of Rs 300 crore with employment generation of 3,500. ETO Motors signed another MoU committing an investment of Rs 150 crore with employment generation of 1,500 while Gayam Auto Works announced its plans to invest Rs 250 crore in the State generating 1,400 jobs. Rohit Vadera, co-founder and CEO of PUR Energy announced the company’s plans to invest Rs 500 crore in the State generating 1,500 jobs.
Launching the policy here, IT and Industries Minister KT Rama Rao said Telangana State already boasts of having the largest electronics cluster with over 1,000 acres available in e-city in Raviryal and another park at Maheshwaram for electronics manufacturers. The State also has a huge National Investment and Manufacturing Zone (NIMZ) in Zaheerabad.
“The State would like to promote itself as an automobile cluster and will offer another 1,000 acres for companies that are looking to set up manufacturing base, to create a comprehensive ecosystem for EVs in the State,” he said. Two more clusters will be announced soon, one at Chandanvelli, Shahbad of RR District as an EV cluster and another at Divitipalli in Mahabubnagar for a new EV cluster, he said, adding that plans are also afoot for a mobility cluster next month where technology and mobility companies will set up their base.
“We invite the industry to come and make Telangana their manufacturing base as we believe local production is the key to achieve price/performance parity and enable faster adoption of electric vehicles,” the Minister said. All these clusters will eventually provide a comprehensive ground for anyone who is looking to set up electric vehicle manufacturing base in Telangana, when they look at India for investment. Industrial policies such as the TS-iPASS will continue to attract investments into the State to push both manufacturing and research.
The presence of PSU electronics companies such as ECIL and BEL will continue to add strength to the ecosystem, besides the large presence of MSMEs further propelling the State to emerge as the leader in EV space, Rama Rao said.
Stating that there had to be collaborative efforts by all the stakeholders including governments, private sector, startups, original equipment manufacturers (OEMs), aggregators for the policy to succeed, he said all the departments concerned will also have to work closely and work with a goal to ensure environmental protection.
He appealed to the automobile manufacturers/OEMs and other stakeholders to make Hyderabad the test bed for implementation of electric vehicle pilots as the government wants to make great strides in green mobility adoption and as well as become the manufacturing hub for electric vehicles.
“Come and work with our Hyderabad Metro Rail, MMTS and RTC to explore better public transport solution, and shared mobility solutions with aggregators, so that more people can be taken away from polluting vehicles that are impacting our cities today,” he added.
Highlighting the strides made on the sustainability front, he said, Telangana has seen success in sustainable energy, with the State taking the installed solar capacity to 4,100 MW (reaching second spot in India) now from 45 MW when the State was formed, which reflects the commitment of Telangana Chief Minister K Chandrashekhar Rao towards renewable energy.
Rama Rao said that the manufacturing ecosystem has been thriving in the State with several players such as Mahindra & Mahindra investing significantly and generating employment.
The company is making tractors at Zaheeerabad, and now the company plans to develop an electric tractor in collaboration with Japanese partners. Farmers will enormously benefit with such technology advancements.
There will be several collaborations in future for battery manufacturing and charging stations across public transport hubs, with the roll out of this policy framework. To boost public transport, Telangana is establishing 178 stations for e-buses. The State has also received several proposals with intent to create more charging infrastructure. The government will further enhance the incentives offered in the policy if the need arises, Rama Rao assured.
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