Karnataka Invites Japanese Investment in EV Sector

Bengaluru, Jan 10 (PTI) Assuring that the Karnataka government would come up with a new clean mobility policy, Large and Medium Industries Minister M B Patil on Wednesday invited the Japanese delegation to consider investing in the sector.

Interacting in a meeting with the Japanese parliamentary delegation, he said that the government aims to position Karnataka as the premier destination for Electric Vehicle (EV) manufacturing.

"The focus will be on the entire value chain related to e-mobility from battery and cell manufacturing, component production, original equipment manufacturers, charging and testing infrastructure, to research and development," the minister said in a statement released by his office.

Karnataka and Japan share many similarities, which include their focus on major industries like auto and auto components, engineering and machine tools, chemicals, innovation and Research and Development, he added.

Stating that the state would like to partner with Japan to become a global manufacturing hub, he said that the Japanese Industrial Township in Tumakuru district is a testimony to the long-standing industrial collaboration between Karnataka and Japan.

Further, Japan India Startup Hub, an online platform, has been facilitating bridging the gap between India and Japan, leading to creating synergy to promote joint innovation in both economies.

Karnataka is home to over 525 Japanese companies operating across industry sectors, with around 70 companies having an active manufacturing presence in the state, Patil said.