Karnataka Govt unveils ₹50,000 Crore Investment Plan with New E-Mobility Policy

Revitalizing the Landscape: Karnataka's Visionary Electric Vehicle (EV) Policy Unveiled
Surya Shah Posted on: 2023-11-10 07:20:00 Viewer: 1,876 Comments: 0 Country: India City: Bengaluru

Karnataka Govt unveils ₹50,000 Crore Investment Plan with New E-Mobility Policy

Bengaluru, India (Urban Transport News): In a strategic move to fortify the Electric Vehicle (EV) ecosystem, the Karnataka state government has introduced a revised draft EV policy (2023-28) on November 10. This ambitious initiative aims to attract a staggering investment of Rs 50,000 crore, concurrently generating job opportunities for a substantial one lakh individuals.

MB Patil, Karnataka's minister for large and medium industries and infrastructure development, envisions this policy as a transformative force. The objective is to position Karnataka as a trailblazer in electric mobility, embracing sustainable practices, fostering innovation, and establishing a robust EV ecosystem across the state.

During an ideation session involving representatives from the EV industry, Minister Patil emphasized the government's commitment. He announced plans for a joint meeting of ministers responsible for finance, energy, transport, and urban development. The goal is to address common challenges before the official launch of the final e-mobility policy.

Responding to recommendations from the EV industry, the government is set to create model EV cities in key locations like Kalaburagi, Belagavi, Hubballi-Dharwad, and Mysuru. This strategic move aims to boost EV adoption and create localized hubs conducive to electric mobility.

Minister Patil revealed ongoing discussions with the National Highway Authority of India (NHAI) to establish EV charging stations at ten major toll booths along the national highway connecting Bengaluru and Pune. This collaboration underscores the state's commitment to creating a comprehensive charging infrastructure.

The government has earmarked Gauribidanur (Chikkaballapur) and Chikkamalligewada (Dharwad) as potential locations for large EV clusters. With land already acquired and available for investors, these zones aim to provide the right economic conditions for sustained growth.

The proposed draft policy introduces significant enhancements, including a capital subsidy increase for testing centers to 30 percent, aimed at attracting top-tier private operators to establish EV testing cum certification facilities. The policy expansion covers cell components, hybrid vehicles, battery recycling facilities, and testing infrastructure.

The envisioned EV clusters will encompass crucial components such as ready-to-occupy land parcels, pre-built factory/sheds, plug-and-play incubation facilities, testing labs, proving grounds, and homologation facilities. This integrated approach is designed to streamline the growth of the EV industry.

The proposed policy extends capital subsidies for micro and small enterprises (25 percent-30 percent), medium-sized enterprises (20 percent-25 percent on the value of fixed assets), and a rental subsidy for properties above 10,000 square feet. These incentives aim to attract and support businesses of varying scales.

Recognizing the importance of skill development, the proposed policy highlights the role of the Industrial Training Institute (ITI). It is expected to significantly reduce skill development costs and shorten training tenures, contributing to the evolution of a skilled workforce in the EV industry.

With around 2.5 lakh registered EVs and 700 charging stations, Karnataka stands as the third-highest state in EV registrations nationally, boasting an 8 percent adoption rate. This underscores the state's commitment to reshape the mobility landscape and lead the charge in sustainable transportation.

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