Karnataka will be a hub for EV manufacturers: CM Bommai

Karnataka Chief Minister Basavaraj Bommai said the state government will ensure that the state becomes the top destination for the foreign and national investors.

Karnataka Chief Minister Basavaraj Bommai said the state government will ensure that the state becomes the top destination for the foreign and national investors.

Bengaluru: Karnataka Chief Minister Basavaraj Bommai addresses the memorandum of understanding (MoU) signing ceremony between the Toyota group of companies and the Government of Karnataka on investments in the state, in Bengaluru, Saturday, May 7, 2022. (PTI) (PTI)

On Saturday, the Chief Minister spoke to ANI after he participated in a programme where the international automobile giant Toyota signed an agreement to invest ₹4800 crore in the state.

Bommai said the government is quietly working on various sectors which can attract investors in a big way. The sectors include IT, electronics, semiconductors, and electric vehicles. ''We will encourage investments in these sectors with our attractive offers,'' he said.

The Chief Minister mentioned that last week a mega agreement was signed with a semiconductor company and now an agreement has been signed with Toyota.

"We will soon have an agreement for electric vehicles and Karnataka will be a hub for electric vehicle manufacturers,'' he noted.

The state is seeking investment in key technology areas. ''A company like Toyota coming forward to invest in Karnataka shows that the state is investor-friendly. This is a message to the entire world,'' he added.