Bengaluru: The Karnataka government on Wednesday approved ‘Electric Vehicle and Energy Storage Policy 2017’ to help the state become a hub for production of alternative fuel vehicles, reduce dependency on fossil fuels, bring down pollution levels and push the ‘Make In Karnataka’ initiative.
The new policy aims to attract investments worth Rs31,000 crore and create around 55,000 employment opportunities.
“The development and formation of this path breaking policy has been a combined effort of the government and key industry players through roundtables organised by Carnegie India and a series of workshops held during the last four to five months," said R.V. Deshpande, minister for large & medium industries & infrastructure development, government of Karnataka.
The state government is looking to set up new EV manufacturing zones, set up charging stations in public and private spaces including airports, railway stations, metro stations and encourage start-ups to develop business models focused on supporting economic applications for EV’s.
The government is also mooting incentives and concessions for manufacturers in line with the Industrial Policy 2014-19 throughout the state including Bengaluru district.
The fifth largest automobile market currently, India is inching towards become the third largest market by 2020. The union government has also unveiled its vision to make the country an all-electric vehicle market by 2031 to reduce dependency on fossil fuels and reduce its carbon footprint.