Gov asks automotive companies to expedite EV manufacturing in India

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The Indian government has further pushed the Indian automotive companies to expedite the electric vehicle manufacturing in the country. As per reports, the government is studying global markets to formulate an EV policy surrounding electric mobility and storage.

EV, manufacturing, automotive, government, India

“We want electric vehicle manufacturers and the people in renewable storage to set up their facility in India. We have a huge, ambitious target, and storage is the future of it,” a senior government official told ET.

He further added, “We are working to make India a manufacturing hub, and we would work on a policy which should facilitate that. We have started discussions with various stakeholders and we will try to bring in the right kind of policies at the right point of time.”

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As per people close to the development, the framework for electric vehicle ecosystem will come under the purview of government think tank Niti Aayog.  “Because there are a number of stakeholders, Niti Aayog will anchor this in a manner that roles and responsibilities of various ministries involved are defined and coordinated.”

However, considering that the market is lucrative enough to achieve the revenue targets, no additional incentives will be provided to the electric vehicle manufacturing companies. On the contrary, the government recently announced to provide incentives to cities for faster adoption of electric vehicles under FAME India scheme.

 

 

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