Electric vehicle makers, sellers to get sops, says Niti Aayog chief

In good news to manufacturers and sellers of electric vehicles (EVs), Niti Aayog CEO Amitabh Kant on Tuesday said the […]

   

In good news to manufacturers and sellers of electric vehicles (EVs), Niti Aayog CEO Amitabh Kant on Tuesday said the government would support them by giving incentives so that the automobile sector continues to play a major role in India’s GDP and job creation. Speaking at an event organised by industry body Assocham, Amitabh Kant said, “We would like to support electric vehicles by providing vast range of initiatives such as lower road taxes.” “And the government will act as a catalyst so that automobile sector continues to play a major role in India’s GDP and job creation as well as in exports,” he added. Kant pointed out that today automobile along with automobile component industry is one of the key drivers of India’s economic growth, contributing 7.2 per cent to the GDP. Citing several studies, Kant said by 2027-28, the cost of EV battery will come down from USD 273 per kWh to USD 73 per kWh even without taking Indian demand into consideration. “If you take Indian demand into consideration, then it will come down to USD 60 per kWh,” he noted. Niti Aayog in a recent report had estimated that accelerated adoption of electric and shared vehicles could save USD 60 billion in diesel and petrol costs by 2030. According to Piyush Goyal, who held power portfolio till recently, India aims to become 100 per cent e-vehicle nation by 2030.

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