April 20, 2024

  • Daily Motion

Soon Govt to announce Incentives for EV infrastructure

Incentives for EV infrastructure

Government’s think-tank recently announces incentives for electric vehicle infrastructure to promote the use of electric vehicles in the country.

Soon Govt to announce Incentives for EV infrastructure

The ministry of the heavy industry will soon announce the incentives, the director general – DMEO & principal adviser, NITI Aayog, Anil Srivastava focused on EVs and said that the EVs are the main focus of the government and soon the incentives will be announced to support the EVs infrastructure.

“When we look into the battery storage and transformation which is going to take place, India’s electric vehicle market will be worth $300 billion in 2030, as per the projections by leading consultants and experts,” said Srivastava

The industry must focus on battery capacity building that is 50-60 GWh by 2025 so that the goals can be achieved of electrification of EVs by 2025. He also mentioned that we shouldn’t rely on lithium, other alternative materials must be explored for the future towards eco-friendly mobility.

Incentives for EV infrastructure

He said, “We cannot afford to miss the bus in electrification drive, be it passenger vehicle, commercial vehicle, two-wheeler or three-wheeler.”

India will have global battery demand by 2027-28, take an example of companies such as NTPC, which is working on developing charging infrastructure for electric vehicles, he said.

He mentioned that the NTPC is working big on charging stations and what kind of incentives to be provided will be announced soon by the Department of Heavy Industries.

He urged the industry to invest in bringing in two-wheeler and three-wheelers, which he believes can be electrified the entire fleet. He thinks the country provides a huge opportunity of size and space and automakers need to have a strong base for EVs.


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