Karnataka expects revised EV policy to attract ₹50,000 crore investments

Published - November 10, 2023 11:58 pm IST - Bengaluru

In a bid to create a robust electric vehicles (EV) ecosystem in Karnataka, the Karnataka government on Friday unveiled a revised draft EV policy (2023-28), which aims to attract ₹50,000 crore investment while creating job opportunities for one lakh people.

“This proposed policy aims to transform Karnataka into a pioneering force in the field of electric mobility, embracing sustainable practices and equitable growth while fostering innovation and creating a robust ecosystem for EVs throughout the State,” said M.B. Patil, Minister for Large and Medium Industries and Infrastructure Development.

The Minister said the government would soon convene a joint meeting of the Ministers of finance, energy, transport, and urban development to iron out common issues before launching the final E-mobility policy.

Responding to EV industry recommendations, Mr. Patil said that the government would develop model EV cities across the State to promote EV adoption. These model cities would be developed in Kalaburagi, Belagavi, Hubballi-Dharwad, and Mysuru among others.

The State was in discussion with the National Highway Authority of India to set up electric vehicle charging stations on either side of the highway at ten major toll booths along the national highway between Bengaluru and Pune, he further said.

KHIR City near Bengaluru

The Karnataka government has decided to set up a Knowledge, Healthcare, Innovation and Research City on the outskirts of Bengaluru at an investment outlay of ₹40,000 crore.

The new investment region would be spread over 2,000 acres within 60 km from Bengaluru and developed in a phased manner and the project would generate over 80,000 new jobs, said a statement from the government.

Besides attracting investments, the city project was aimed at contributing at least ₹1 lakh crore to the State GDP, said Mr. Patil.

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