Indian Government focusing more on the production of Electric Vehicles

Indian Government Focusing More On The Production Of Electric Vehicles

The Indian Government has ordered automobile companies to focus on the electric vehicles manufacturing in the country. Senior officers stated that the government is analyzing the global markets to develop a policy associated with storage and electric mobility. “We want renewable energy storage and electric vehicles manufacturers set up their plants in India. We have made immense and ambitious goals and their potential is concealed in storage capacity,” a senior government official said.

Last year, Power Minister RK Singh had said that he had organized meetings of electric vehicle and storage systems manufacturing companies and asked them to initiate the investment in these segments, where there are huge growth opportunities. The official source said, “We are working hard on making India a global manufacturing hub. We are also in the process to make some new policies for the same, which will be brought in at the right time. Moreover, there is a constant conversation with stakeholders as well.”

Manufacturers are energized about the idea of manufacturing electric vehicles in India, but for them, the government does not have any incentive scheme at present. An official source said, “Currently no incentives are being given. There are 1.3 Billion people in India and how we need the vehicles and what kind of renewable energy storage we need, will create some lucrative opportunities in terms of economies scale. There is a possibility of development of a large-scale business which will ultimately make the market more attractive.”

electric vehicles

The government has acknowledged a number of key areas which can boost e-mobility. Another government official said on condition of anonymity, “The discussion was focused on how to upgrade the storage over time, how to encourage domestic manufacturing of this field, that the import of batteries will be discontinued. And what policy is needed for the electricity sector, which will give a big boost to the charging stations.

However, the industry wants the government to make such a policy that can also stimulate the sale of electric vehicles in the market. Official sources said that some automobile companies are ready to make electric vehicles in India and the government is also working on accelerating the process related to it.

In the meeting led by the Power Minister, storage system providers, representatives of the electric vehicles giants, National and International companies were present. Niti Aayog, the government’s think tank will be headed by the Government’s steps to put up a system for electric vehicles in the country. The official sources said, “There are many stakeholders in this sector, so it will be led by the policy commission that the roles and responsibilities of concerned ministries are defined and coordinated.”

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