April 11, 2024

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Transformative Mobility & Battery Storage Initiatives Approved By The Govt

Transformative Mobility & Battery Storage

National mission on transformative mobility and battery storage initiatives proposal is approved by the Union Cabinet chaired by the Prime Minister Narendra Modi.

Transformative Mobility & Battery Storage Initiatives Approved By The Govt

It has also announced the approval of Phased Manufacturing Program (PMP) for the development of large-scale, export-competitive integrated batteries and cell-manufacturing giga-scale projects in India.

In a Government press release, “The decisions will help in better coordination among Ministries, Departments, and Governments in ushering a transformative multi-modal mobility paradigm and will facilitate setting up of giga-scale integrated cell and battery manufacturing facilities in India.”

Transformative Mobility & Battery Storage Initiatives Goals

The main goal of this mission is to bring the technology that can sustain and bringing up the eco-mobility solutions universally by scaling up the manufacture of these vehicles.

To boost up the EVs in the country, the government has taken several initiatives, the implementation of FAME-‘Faster Adoption and Manufacturing of Electric Vehicles in India Phase II.

For the promotion of electric mobility in India. It has a budget of ₹100 billion ($1.41 billion), which will be used for the three years with effect from April 1, 2019.

The FAME goal is to promote the faster adoption of electric and hybrid vehicles by providing incentives on the purchase of electric vehicles or setting up charging infrastructure for electric vehicles.

Ministry of Power had also brought a plan to develop the EVs infrastructure in around 70 cities and 20 highways till 2020-25 in ₹50 billion (~$700 million).

The government also decreased the customs duty on import of EV components to 10-15 percent, earlier it was 15-30 percent. This decision helps the manufacturers to assemble the parts and components of EV with only 15 percent customs duty.

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