The Society of Manufacturers of Electric Vehicles (SMEV) has signed a Memorandum of Understanding (MoU) with Taiwan External Trade Development Council (TAITRA) with an aim to create favorable ecosystem for electric vehicles in India.
The newly developed partnership aims at jointly developing electric vehicles (EV) through the exchange of information and technology.
The MoU provides opportunities to discuss significant matters like Governments’ EV policies, EV market trends, technologies, business and investment possibilities available in the EV sector. Apart from this the MoU is set to establish an R&D sector in India thus giving a boost to EV manufacturers in the country at the grassroots level.
The MoU will also provide local assistance to the representatives of both the associations for promoting their business interest in the country. The memorandum is expected to bring in more investment opportunities and enhancement to the Indian EV industry.
Walter Yeh, President, Taiwan External Trade Development Council has informed media people that as a part of the collaboration, both the parties would be undertaking several market studies on the EV sector to identify key issues and addressing them accordingly.
He further informed that the both the associations would be taking necessary steps that are feasible for the development of electric vehicles through trade promotion and economic cooperation between the two countries.
