Karnataka expects ₹15,000 crore new investment in electric vehicle segment: Industry Minister

Karnataka has registered around two lakh EVs in the State, making it the third highest in the country, Large and Medium Industries Minister M B Patil said.

Published on: Oct 19, 2023, 12:07:09 IST

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Karnataka being at the forefront to foster the growth of the Electric Vehicle sector has successfully attracted investments of ₹25,000 crore, spanning the entire value chain, Large and Medium Industries Minister M B Patil said on Wednesday. He further said an additional investment of ₹15,000 crore is expected to flow towards research and development in the sector.

Karnataka Congress leader MB Patil. (File Photo)

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The Minister earlier inaugurated the Electric Vehicle Mobility Centre of Excellence & Innovation set up at JSS Academy of Technical Education, Bengaluru campus (JSSATE-B), here. Patil said the ₹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 start-ups. The Minister said the development of the overall Auto/ EV ecosystem in Karnataka is poised to bring about significant employment opportunities.

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"To ensure a skilled workforce, we have proactively partnered with leading companies such as Tata Technologies and Siemens." "This Centre of Excellence & Innovation for Electric Vehicle Mobility at JSS Academy of Technical Education, is strategically positioned to play a critical role in achieving our modern transportation goals," he said.

It would 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, Patil added.

ABOUT THE AUTHOR
Yamini C S
Yamini CS is a Senior Content Producer at Hindustan Times with nearly six years of experience in digital journalism. She is part of the India News desk, where she works on a wide range of stories cutting across civic issues, city-based developments, politics, governance, public policy, breaking news, trending topics, and international affairs that have an impact on India. Her role involves tracking fast-moving developments, verifying information from official and on-ground sources, and presenting news in a clear, accessible format for a digital-first audience. A significant part of her work includes handling live blogs during major news events, such as elections, court verdicts, political developments, civic disruptions, protests, weather-related alerts, and unfolding national or international incidents. Through live coverage, she focuses on timely updates to help readers follow complex stories as they evolve. Before moving to the broader India News desk, Yamini was associated with the Bengaluru desk at Hindustan Times, where she extensively covered urban governance, infrastructure, traffic and transport issues, weather events, public grievances, and civic administration in the city. This experience strengthened her grounding in city reporting and sharpened her focus on citizen-centric journalism. She began her career as a correspondent with Reuters after completing a postgraduate diploma in journalism from the Indian Institute of Journalism and New Media. Her early training instilled a strong emphasis on accuracy, sourcing, and news ethics, which continue to shape her reporting style. Outside of work, Yamini enjoys reading across genres, listening to music, and spending time with her family, which help her maintain balance in a fast-paced newsroom environment.Read More

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