Vietnamese electric vehicle (EV) maker VinFast has promised a $2 billion plant in the southern state. And as promised earlier, the work on Tata Motors-JLR plant will kick off next week, on September 28, after the foundation stone laying ceremony. Ford Motor too has announced a comeback to the state with its EV plans.
Favourable industrial policies launched way back in 2014, skilled labour and a good supply-chain networks have prepared the ground for the EV makers to land.
About 40 per cent of the country's EV production, including twowheelers, three-wheelers, and cars, takes place in Tamil Nadu now. In the two-wheeler segment, three out of the top five EV manufacturers Ola Electric, TVS Motor, and Ather Energy- are already based in the state. The state already accounts for 70 per cent of the total EV two-wheeler manufacturing in India, with a current production capacity of 10 million units.
This story is from the September 18, 2024 edition of Business Standard.
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This story is from the September 18, 2024 edition of Business Standard.
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