Karnataka Expects Rs 15,000 Cr Investment For R&D In EV Sector: Minister M B Patil

ENA State 2023-10-19 13:44:27 Bengaluru, Oct 19 (KNN) The Karnataka government is expecting to attract investment of Rs 15,000 crore for research and development in the Electric Vehicle sector, Large and Medium Industries Minister M B Patil said. Till now, the Karnataka government has successfully attracted investments of Rs 25,000 crore, spanning the entire value chain. Patil said the Rs 25,000 crore investment encompasses battery pack and cell manufacturing, component production, original equipment manufacturing (OEMs), and charging and testing infrastructure. Karnataka has registered around two lakh EVs in the State, making it the third highest in the country, he said, adding, the state is home to 7-plus auto OEMs, 50-plus auto component manufacturers, and 45-plus EV startups. The Minister added that the development of the overall Auto/ EV ecosystem in Karnataka is poised to bring about significant employment opportunities. To ensure a skilled workforce, we have proactively partnered with leading companies such as Tata Technologies and Siemens, he added. Earlier, the minister also inaugurated the Centre of Excellence & Innovation for Electric Vehicle Mobility at JSS Academy of Technical Education. This Centre of Excellence & Innovation for Electric Vehicle Mobility is strategically positioned to play a critical role in achieving our modern transportation goals, he said. The centre will serve as a hub for training, research, and innovation in the EV domain, enhancing workforce skills, preparing graduates for entrepreneurship, promoting globally relevant technology, fostering collaborative partnerships, and offering incubation and skill development. (KNN Bureau) 35203 https://knnindia.co.in/news/newsdetails/state/karnataka-expects-rs-15000-cr-investment-for-rd-in-ev-sector-minister-m-b-patil 2023-10-19 13:44:27 knnindia.co.in Karnataka Expects Rs 15,000 Cr Investment For R&D In EV Sector: Minister M B Patil