(MENAFN- KNN India)
New Delhi, Jan 4 (KNN) Electric vehicle manufacturers in India have unanimously declared their readiness to operate without government subsidies once the current support Regime expires, Commerce and industry Minister Piyush Goyal announced on Friday.
The statement emerged from a high-level meeting with EV sector stakeholders focusing on charging infrastructure development and industry growth.
The government has implemented several supportive measures for the EV sector, including the FAME-II scheme, which provides purchase price reductions for electric vehicle buyers and aims to install 10,763 public charging stations nationwide.
Additionally, the PM E-DRIVE initiative supports the deployment of electric buses, three-wheelers, rickshaws, and two-wheelers, while also funding the development of charging infrastructure and testing facilities.
In a significant move to attract global EV manufacturers, the government introduced a policy in March last year offering duty concessions to companies investing a minimum of USD 500 million in domestic manufacturing facilities.
The auto sector also benefits from a production-linked incentive scheme with a five-year budgetary allocation of Rs 25,938 crore, specifically including provisions for electric vehicles.
Addressing infrastructure development, Goyal revealed that the Petroleum and Explosive Safety Organisation has drafted guidelines for installing EV charging and battery swapping facilities at petrol pumps.
The ministry advocates for a self-regulated approach to these installations and encourages residential associations and commercial establishments to invest in charging equipment.
The Bureau of Indian Standards is actively developing safety standards for the industry, with specifications already established for three- and four-wheelers. Draft standards for two-wheelers are currently under review, with stakeholders invited to submit feedback by January 6. Goyal emphasised that these standards will continue to evolve alongside industry innovations.
Regarding business models, the minister maintained that companies should have the freedom to choose their operational approach, whether through battery swapping collaboration or independent battery sales.
The meeting included representatives from major manufacturers like Tata, TVS, and Mercedes-Benz India, along with officials from various government departments and Niti Aayog.
Industry estimates indicate that India's EV sales reached approximately one million units in 2022, with Tata Motors leading the passenger vehicle segment through its Nexon EV, Tiago EV, and Tigor EV models.
(KNN Bureau)
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