Chennai: The Tamil Nadu Government has entered a MoU with Ola Electric Mobility for the production of four-wheeler electric vehicles. According to an official statement the establishment of a 20 GW battery manufacturing capacity at an investment of Rs 7,614 crore.

The Tamil Nadu Government unveiled its Electric Vehicle Policy – 2023 on February 14 which aims to garner investments to the tune of Rs 50 K crore and generate 1.50 lakh jobs, in a boost to the EV industry. These activities will provide employment to as many as 3,111 people.

Chief Minister M K Stalin formally released the new policy in the presence of government officials on Tuesday at the Secretariat in Chennai. To support this goal, Tamil Nadu aims to electrify the vehicular fleets operating in the State by leveraging its vibrant automotive ecosystem comprising original equipment manufacturers, auto component ancillaries, highly skilled workforce and robust research and development capabilities, the policy document said.

It also mentioned that the Government would encourage the adoption of electric vehicles in the state with 100 % road tax exemption among others.