GOVERNMENT TO SUPPORT THE ELECTRIC VEHICLES BUSINESS
Pranshi Ladha, INN/ Madhya Pradesh
India has always stood firmly in front of the world as a developing and powerful country, whether it is a matter of intelligence or strength, India has always accepted it’s every difficulty and turned it into it’s opportunity.
With this spirit, India is now taking its step in the E.V. (Electric Vehicle ) sector. Yes, it is true that many countries of the world have overtaken us in this initiative and are bringing EVs in their own countries, but still this step of India is like an example for many countries which are dependent on developed countries for everything. India is engaged in manufacturing its own indigenous electrical vehicle, in which Indian companies such as Mahindra & Mahindra, Tata Motors are at the forefront.
Union Minister Shri Nitin Gadkari in his press meeting on 1 july 2021 made a statement here that the government is planning to set up an institution that will lend to public transport and commercial vehicle segment with focus on electrical vehicles. Gadkari also stated that government will provide the incentives for construction of electic vehicles
As per a new report, India’s E. V’s financing industry is projected to be worth Rs 3.7 lakh crore in 2030, which would be around 80% of the flow retail vehicle finance industry.
“The Government is intending to set up a monetary establishment to subsidize business with an emphasis on electric vehicles and work with new monetary instruments for loaning to the public transportation and business vehicle section,” Gadkari said.
Further, Gadkari called attention to that battery cost is 50% of an electric vehicle and India’s exploration foundations are dealing with an elective battery innovation for such vehicles.
“We have a big interest for electric vehicles. Numerous new businesses have begun delivering electric vehicles.” The minester noticed that because of import of oil based commodities, India is dealing with issues of pollution.
“We will utilize solar energy for charging batteries of electric vehicles,” Gadkari said, adding that as of now, 69,000 gas stations have electric vehicle charging offices.