Shailesh Chandra says government support in form of lower GST, as well as other state taxes, should continue till electric vehicles are able to achieve 18-20% penetration.
With its own EV market in a nascent stage, India could be an attractive investment destination because China's economy is slowing and Europe is looking to curb Chinese imports.
Consumers embrace EVs as their primary mode of transport, overcoming initial concerns and challenges. Factors such as cost of ownership, performance, and home charging drive the demand.
Financing of electric vehicles is becoming easier but financial institutions and investors of electric vehicle companies will be wary of government's ongoing investigations.
In response to question in Parliament, Union minister Nitin Gadkari says CERT-In issues alerts regarding latest cyber threats & countermeasures on a regular basis.
Central govt says 5.9 mn tonnes of lithium reserves have been found in J&K. Lithium's a key component in EV batteries & will ultimately help India achieve net zero emissions by 2070.
The auto industry expects 2023 to see sales grow by up to 7.5% for passenger vehicles over the levels seen in 2022, which itself was a record high for the segment.
While some stakeholders believe battery-swap can be an alternative to conventional charging, others point to higher cost involved and risk of proliferation of low-quality batteries.
For an industry globally classified as hazardous, protections such as health insurance and a provident fund for workers are necessities. In Sivakasi, they remain elusive.
The industry forecasts exports are set to grow 16% in 2025-26, boosted by surplus domestic production and a drive to push into 26 underserved global markets with strong potential.
Indigenisation level will progressively increase up to 60 percent with key sub-assemblies, electronics and mechanical parts being manufactured locally.
It is a brilliant, reasonably priced, and mostly homemade aircraft with a stellar safety record; only two crashes in 24 years since its first flight. But its crash is a moment of introspection.
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