Tamil Nadu is gearing up to be a global electric vehicle (EV) manufacturing hub, with the government seeking to attract ₹50,000 crore in investments and envisioning 1.5 lakh new jobs in the EV sector in the next five years. Yet, MSMEs hold the key to unlocking the potential of these investments and future growth. Most EV components are currently imported, but the EV component market is projected to grow at a CAGR of 22% until the end of the decade. This presents MSMEs with a huge opportunity, as EV manufacturers are keen to localize their component base. It also means significant new investments and manufacturing capabilities can be built into newer components such as motors and controllers, battery management systems, chargers, and charging stations, amongst others. From the state’s perspective, EV-ready MSMEs have the potential to create new and greener jobs, especially for women in a sector that has traditionally been male-dominated.