Union Budget: Tamil Nadu's EV industry charges up with customs duty exemptions
Tamil Nadu’s EV industry will benefit from customs duty exemptions on critical minerals like lithium, cobalt, and nickel, reducing battery costs and making EVs more affordable. The industry aims to reach $40 billion by 2030. Mahesh Babu of Switch Mobility supports these measures, while some express disappointment over the lack of a FAME III scheme. Rajat Mahajan of Deloitte India sees indigenisation being encouraged. Tamil Nadu targets 30% of the R&D market by 2030, with opportunities in raw materials, cell chemicals, electrical steel, telematics, and energy storage systems, contributing to a $1 trillion economy target.
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Tamil Nadu’s EV industry will benefit from customs duty exemptions on critical minerals like lithium, cobalt, and nickel, reducing battery costs and making EVs more affordable. The industry aims to reach $40 billion by 2030. Mahesh Babu of Switch Mobility supports these measures, while some express disappointment over the lack of a FAME III scheme. Rajat Mahajan of Deloitte India sees indigenisation being encouraged. Tamil Nadu targets 30% of the R&D market by 2030, with opportunities in raw materials, cell chemicals, electrical steel, telematics, and energy storage systems, contributing to a $1 trillion economy target. 
