Government To Undertake EV Components Manufacturing
March 10, 2019
The Government of India has taken up the initiative of producing and manufacturing EV batteries and components. Under the chairmanship of Prime Minister Narendra Modi, the ‘National Mission on Transformative Mobility and Battery Storage’ scheme has now been approved by the Union cabinet. The scheme will work alongside and under the guidelines of committee of Niti Aayog with will promote clean, connected, shared, sustainable and holistic mobility initiatives. The national mission will set up the groundworks for the fabrication of the EV units for the next 5 years EV ecosystem. The government will target large and mass scale manufacturers to phase in the initiative and planning followed up by semi private and small private ventures. The government also believes with the introduction of the fabrication of EV plants, fabrication units and batteries production, will also help in increase of employment in the automobile sector and will also entertain foreign business brands and ventures to launch lineup in near future. This initiative will also encourage the bigger electric brands to follow up product launch in India via a guided platform. The body will also coordinate with key stakeholders in ministries/departments and states to integrate various initiatives aimed at transforming mobility in India. The aim of the initiative is to send the industry a clear signal and make the investments needed to localise the EV value chain.