EV Focus: Rs 26,659 Crore Worth Investments Cleared by Government of Karnataka

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The government of Karnataka had also signed 18 MoUs worth Rs 19,955 crore recently

The state government of Karnataka has cleared proposals worth Rs 26,659 crores during the 55th meeting of State High Level Clearance Committee (SHLCC). These proposals include electric vehicle manufacturing, and lithium cells and battery manufacturing.

This 55th SHLCC meet was attended by large and medium industries minister Jagadish Shettar, deputy chief minister of industries Ashwat Narayan, and Gaurav Gupta who is the principal secretary at commerce and industries department among other senior officials.

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Two proposals by Elest Pvt Ltd

The investments’ proposals cleared during the 55th SHLCC meeting include two proposals by Elest Pvt Ltd in Hubli/Dharwad. One of which includes two proposals by Elest Pvt Ltd in Hubli/Dharwad worth Rs 14,255 crore on 85 acres of land for electric vehicle manufacturing and the other is worth Rs 6,339 crore on 88 acres for lithium ion cells and battery manufacturing unit. These two proposals have a potential to generate employment for more than 2500 people.

Proposals worth Rs 1,825 crore for lithium batteries and electric vehicles were also cleared by the government of Karnataka. These investment proposals were made by Hyunet Private and have the potential to create 2,210 jobs.

The government of Karnataka had recently signed 18 MoUs worth Rs 19,955 crore recently. These MoUs, signed with the likes of Ola Electric, Mahindra CIE, and First Solar among others also seemed focused towards electronics manufacturing.

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