Click it and Unblock the Notifications
Vidyut Co-founder Xitij Kothi And EVage CEO Inderveer Singh Highlights Challenges And Hopes In The EV Sector
Inderveer Singh, CEO and Founder of EVage, expressed concerns about the future of the FAME III norms. "Recently, the Union Minister of Heavy Industry indicated that the FAME III norms are unlikely to be announced in the upcoming budget.
Nevertheless, we remain hopeful that these norms are still under consideration and that some provisions might be included," he said. Singh highlighted the importance of decarbonizing commercial vehicles, which contribute significantly to vehicular pollution.
He stated, "Commercial vehicles are one of the most polluting segments of road transportation and account for 65-70% of total vehicular pollution. Decarbonizing this segment should be a priority for the government and a policy to address this should be implemented soon."
Singh emphasized that effective government intervention is crucial to meet India's target of 30% electric vehicle sales by 2030.
Challenges in EV Battery Subsidies
Xitij Kothi, Co-founder of Vidyut, pointed out significant challenges in the EV sector related to subsidies and GST on EV batteries.
"The disparity in subsidies and GST on EV batteries still remains a significant challenge for innovative models like BAAS (battery as a service), battery leasing to flourish. We hope that the government will address these concerns," Kothi remarked.
Kothi also mentioned the rapid growth of the EV industry but noted there is still much work needed to accelerate India's transition to electric vehicles.
He said, "The EV industry has grown rapidly but there is still a lot to be done to accelerate India's EV transition journey. We are optimistic that the government will launch the FAME III scheme and continue to propel the growth of the industry."
Incentives for Charging Infrastructure
The previous budget had raised hopes for incentives aimed at improving charging infrastructure. Kothi stressed that clearer policies in this area would enhance charging facilities' quality and support ecosystem growth. He added, "Clearer policies in this area would enhance the quality of charging facilities and support the ecosystem's growth."
Furthermore, Kothi highlighted the need for a framework and incentives from the government to boost the secondary market for EV batteries.
He stated, "Lastly, a framework and incentives from the government to fuel the growth of the secondary market for EV batteries is also something that the industry greatly benefit from."
The statements from Singh and Kothi underscore critical areas where government intervention could significantly impact India's electric vehicle landscape. Addressing these issues help achieve ambitious targets for EV adoption while ensuring sustainable growth within the sector.
Continue with Google