August 29, 2022
India is working on developing a robust Electric Vehicle (EV) ecosystem
The government is working on creating easier loan facilities and tax relaxations on EVs, to promote their adoption in the country
A battery manufacturing facility and a vehicle manufacturing facility are being set up in Gujarat and Haryana, respectively
Over 125 Japanese companies are working in Gujarat, from the automobile to the biofuel sector
Prime Minister Narendra Modi said that India will become self-reliant in the energy sector by 2047 at an event in Gujarat. To meet 50% of its installed electrical capacity from non-fossil sources by 2030, as India had announced at COP26, the government is developing a robust EV ecosystem. PM Modi stated that easier loan facilities and tax relaxations on EVs are being provided to promote their adoption in the country.
According to media reports, multiple projects have been initiated to drive this movement With an investment of INR 7300 crore, the Suzuki Motor Gujarat Electric Vehicle Battery Manufacturing Facility will be set up in the State to manufacture Advanced Chemistry Cell batteries for EVs. Also, a vehicle manufacturing facility in Haryana will be set up to build one million passenger EVs per year. An initial investment of INR 11,000 crore will be allocated for it.
PM Modi said that over 125 Japanese companies are working in Gujarat, ranging from the automobile to the biofuel sector. He also said that a bullet train line from Gujarat to Maharashtra and numerous other developmental projects are the results of the India-Japan partnership.