Transition of automobiles towards electric mobility inevitable, says NITI Aayog CEO


PTI, Aug 25, 2021, 1:14 PM IST

New Delhi: The transition of automobiles towards electric mobility is inevitable and it is for the auto industry to make the change and drive it to make India a global leader in electric vehicles (EVs), NITI Aayog CEO Amitabh Kant said on Wednesday.

Speaking at the annual convention of the auto industry body Society of Indian Automobile Manufacturers (SIAM), Kant said in the next two years the cost of batteries will fall even further thereby bringing down the upfront cost of acquisition for consumers.

”At Niti Aayog, we are taking all measures to boost innovation, efficiency and investments in the automobile sector, especially to bring down the initial upfront cost of EVs to the consumers. I am stressing on EVs because I’m a strong believer and a firm believer that this transition is inevitable,” he asserted.

He further said we are a centre for compact car manufacturing.

“If we do not innovate, and if we do not make a radical transformation, we will lose this opportunity to become a leader in electric vehicle manufacturing. Global battery costs have been declining, much faster than anticipated and therefore, EV economics have become favourable as battery costs decline,” he added.

In the next two years, Kant said the cost of batteries will fall even further.

”The writing is on the wall, and it’s for the industry to make the inevitable change and drive it, and lead it, and make India a leader in the transition of mobility across the world,” he said.

“The country has the potential to be the ”champion” of two-wheelers, three-wheelers and four-wheelers and long-distance transport, including commercial vehicles with the new technology of the future,” he said.

Kant asked automobile manufacturers to expand investments in research and development to support electric mobility, which includes vehicle systems integration, motors and controls, power electronics and charging infrastructure.

Stating that India is a highly price-sensitive market and Indians consumers are cost-conscious, Kant said innovative business options such as battery swapping and leasing will reduce the upfront cost of batteries.

Also, he said India has immense potential to be a battery manufacturing leader in the world.

”Despite the fact that we do not have nickel, cobalt and lithium, we can add up to 81 per cent of the value of batteries in India,” Kant said, adding the government has also restructured the FAME II scheme to make it even favourable for electric two-wheeler consumers by reducing the upfront cost.

Leading two-wheeler manufacturers have reported a four-fold increase in sales, in the past three years in India around 5.17 lakh EVs have been registered in the market, Kant said.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Actress Kasthuri released from jail, says ‘I thank those who made me raging storm’

Kidnapped for ransom in 1998, 26/11 survivor Gautam Adani faces biggest trial

100 engineering colleges in Karnataka to be ‘adopted’ by corporates by next year: IT Minister Kharge

Siddaramaiah defends BPL ration card cancellation, says only ineligible beneficiaries affected

China announces new policy measures to protect its exports from Trump’s new tariff threat

Renovated Medical Oncology OPD and Chemotherapy Day Care Centre inaugurated at Kasturba Hospital, Manipal

Karnataka Health Minister justifies revision of user fees in state-run hospitals

Related Articles More

Actress Kasthuri released from jail, says ‘I thank those who made me raging storm’

Kerala HC quashes FIR against Goa Guv over remarks on Sabarimala women entry

Smriti Irani embarks on four-nation tour to promote book on PM Modi

Karnataka Milk Federation enters Delhi-NCR, offers competitive pricing on Nandini products

Rahul, Congress tried since 2002 to target Modi’s image, PM’s credibility remains high: BJP

MUST WATCH

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation

Geethotsava

Naxal Operation


Latest Additions

Siddaramaiah says confident of winning all three bypolls in Karnataka

Hop on! IT Minister Priyank Kharge checks out Uber Shuttle at Bengaluru Tech Summit

Actress Kasthuri released from jail, says ‘I thank those who made me raging storm’

Kidnapped for ransom in 1998, 26/11 survivor Gautam Adani faces biggest trial

AIMPLB to hold its annual general sessions in Bengaluru from November 23

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.