- 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
- He also said that India has huge potential to be a battery manufacturing leader of the world
Niti Aayog CEO Amitabh Kant said that 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). 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.
He added that at Niti Aayog, they 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. He said that he is stressing on EVs because he a strong believer and a firm believer that this transition is inevitable.
He further said, India is a centre for compact car manufacturing. If India does not innovate, and if we do not make a radical transformation, the country will lose this opportunity to become a leader in electric vehicle manufacturing.
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 new technology of the future, he said. Kant asked automobile manufacturers to expand investments in research and development to support electric mobility. This includes vehicle systems integration, motors and controls, power electronics and charging infrastructure Kant said innovative business options like battery swapping and leasing will reduce the upfront cost of batteries.
He also said that India has huge potential to be a battery manufacturing leader of the world. He added that despite the fact that India does not have nickel, cobalt and lithium, it can add up to 81 per cent of value of batteries in India. He added that the government has also restructured the FAME II scheme to make it even favourable for electric two-wheeler consumers by reducing the upfront cost
