(MENAFN- Asia Times) While the Indian government is pushing for electric mobility, car makers are also finalizing their blueprints to roll out electric vehicles.
South Korean auto major Hyundai , which operates in India through its wholly-owned subsidiary Hyundai Motor India Ltd (HMIL), is looking at various options for locally sourcing electric vehicle components.
Hyundai plans to drive its first electric vehicle into India this year in a complete knock-down form; it will be assembled at its plant, located in Chennai, in the southeast.
However, as a long-term measure, Hyundai is looking at various options, including local manufacturing of battery parts, the Press Trust of India reports.
The Indian government is pushing for local sourcing of electric vehicle components and Suzuki Motor Corp, along with its partners, is building an automotive lithium-ion battery manufacturing plant in Gujarat in the west.
Tata Motors and Mahindra are also actively pursuing the electric vehicle segment in the country.
India is currently pursuing a scheme known as Faster Adoption and Manufacturing of Hybrid and Electric Vehicles 2 ( FAME-II ) with an outlay of 100 billion rupees to focus on electrification of public transport.
The central government will offer incentives for electric buses, three-wheelers, and four-wheelers to be used for commercial purposes. It will also focus on setting up of charging stations with the active participation of state-owned and private players.
Plug-in hybrid vehicles and those with a sizeable lithium-ion battery and electric motor will also be included in the FAME-II scheme. Fiscal support will depend on the size of the battery, officials say.
MENAFN2204201901590000ID1098421953
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.