Telangana attracts 5,000 cr investments in EV segment

Hyderabad: Industries Minister KT Rama Rao informed that the State had attracted an inflow of Rs 5,600 crore in the Electric Vehicles segment after it had announced its EV policy in October last.

Responding to a question on the status of EV sector in the State in Legislative Council on Friday, Rama Rao said that the Telangana was the only State in the country to have an Electric Vehicles policy. He said the policy envisages electric vehicles usage and alternative energy storage components. He said apart from foreign entities, two startup companies from the State were investing in the EV segment.

He further informed that the State government had established two industrial parks, one in Chandanavalli and another at Sitarampur of Shabad mandal of Rangareddy district in an extent of 1,300 acres and similarly, a new energy park at Divitipally in Mahbubnagar district was coming up in an extent of 340 acres, which was likely to be increased to 500 acres. "The State government has sent proposals to the Centre seeking its approval under EMC 2.0 scheme.

It is for the investors to avail additional concession provided by the Centre under the said scheme," he said, adding that companies were evincing interest in manufacture of buses, trucks and cars. "The Automotive Research Association of India (ARAI) is intending to establish a pre-certification laboratory in the State," he said. Currently, 6,311 EVs of different categories were plying in the State and incentives to the tune of Rs 26.18 crore were provided, he informed, adding that the Telangana State Road Transport Corporation was plying 40 EV buses connecting the airport with the city. In all, there are 111 EV charge stations operating in 98 places in the city. The government was planning to add another 118 new recharge EV stations in Hyderabad, and 10 each in Karimnagar and Warangal, he said.