An electric vehicle (EV) and battery manufacturing base will be set up in the Indian state of Karnataka, for which the state government has approved Rs224.19bn ($3.03bn) for three projects.
Two projects by Bengaluru-based Elest Private Limited in Hubli and Dharwad have been approved — an EV manufacturing unit at an investment of Rs142.55bn, and a lithium-ion cell and battery manufacturing unit at an investment of Rs63.39bn.
On Monday, the state government also approved Bengaluru-based Hyunet Private Limited’s project to manufacture lithium batteries and EV manufacturing unit in Chikkaballapura district.
In March 2020, the state had announced establishment of an electric vehicle and energy storage manufacturing cluster in Karnataka.
Earlier this month, ride-hailing platform Ola had announced the setting up of a Rs24bn electric scooter factory in Hosur in the neighbouring state of Tamil Nadu.