German automobile giant BMW has agreed to set up an auto parts manufacturing unit in Punjab. According to a statement issued by the Punjab government on Tuesday, the decision was taken during chief minister Bhagwant Mann's week-long visit to Germany, which started on September 11.
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During the ongoing visit, Mann showcased his government's exemplary work to promote the industry in the state after which BMW agreed to set up its auto component unit in Punjab, the statement added.
The chief minister said the auto parts manufacturing unit will give a major boost to industrial growth in Punjab and open new employment avenues for youth.
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Bhagwant Mann pointed out that this will be the second unit in India as the German automobile giant's first such unit is already operational in Chennai, the government statement on Tuesday said.
He also invited BMW to collaborate with Punjab in the e-mobility sector.
The chief minister was apprised that e-mobility is a major sector of focus for BMW, which targets 50% of its global sales to consist of fully electric vehicles by the year 2030.
{{/usCountry}}The chief minister was apprised that e-mobility is a major sector of focus for BMW, which targets 50% of its global sales to consist of fully electric vehicles by the year 2030.
{{/usCountry}}Mann said Punjab's electric vehicle Policy is expected to usher in a new era for the e-mobility sector in the state.
In August, Mann gave a nod to the draft of a new electric vehicle policy for Punjab that proposed waiving registration fees and road tax and cash incentives for buying electric vehicles.
Mann said the policy aims at reducing environmental pollution by checking carbon emissions through promotion of electric vehicles.