(MENAFN- KNN India)
New Delhi, Jan 3 (KNN) In a significant move to address critical issues in the electric vehicle (EV) sector, stakeholders will convene with Commerce and industry Minister Piyush Goyal today.
The meeting will focus on infrastructure challenges, including charging and battery swapping, according to sources. Officials from the Department of Heavy Industries are expected to participate.
Representatives from leading companies such as Tata Motors, Mahindra, Mercedes-Benz India, Hero MotoCorp, and others have been invited to the discussions, which underscore the government's commitment to fostering EV growth in India.
India's EV market is poised for exponential growth, with projections estimating one crore units in annual sales by 2030, creating five crore jobs, as per the Economic Survey 2022-23.
However, despite the government's electric-vehicle policy introduced in March 2022, which offered duty concessions for manufacturing units with a minimum investment of USD 500 million, no company has yet availed these benefits.
The policy aims to position India as a global EV manufacturing hub, attracting investments from renowned international manufacturers. Tata Motors currently leads the Indian passenger EV market, with models like the Nexon EV, Tiago EV, and Tigor EV dominating sales.
Infrastructure remains a key hurdle for EV adoption. To address this, the government plans to install 10,763 public charging stations under the FAME-II scheme.
The PM E-DRIVE initiative further supports electric mobility by funding 14,028 e-buses, over two lakh e-three-wheelers, and other EV categories.
Union Minister for Heavy Industries HD Kumaraswamy reiterated India's commitment to ensuring adequate charging infrastructure to facilitate the EV transition.
This meeting follows a similar consultation in April 2022, attended by representatives from major manufacturers, including Tesla's advisor and luxury brands like BMW and Audi. Such engagements highlight the collaborative efforts required to navigate challenges and realize India's ambitious EV goals.
The outcomes of today's meeting are expected to influence the strategic direction of India's EV ecosystem, ensuring it aligns with the nation's vision for sustainable and inclusive mobility.
(KNN Bureau)
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