New Delhi sources have stated that India will give incentives to battery makers to set up more manufacturing units as the government looks to intensify the promotion of electric vehicles. Meanwhile the ministry for renewable energy said Prime Minister Narendra Modi's administration has set a goal to ensure all new vehicles sold in the country are electric by 2030. But such vehicles are expensive due to the high cost of batteries, most of which are imported.
Meanwhile renewable Energy Minister R. K. Singh held talks with battery manufacturers and asked them to set up units in India, assuring them the government would give incentives to the sector. Further a ministry statement said the government was also in talks with resource-rich countries to ensure supplies of raw materials such as lithium, which are needed to manufacture batteries.
Moreover the statement did not specify which
companies were represented at the talks or what sort of incentives would be
given. According India's electric vehicles push is likely to benefit automakers
such as Tata Motors and Mahindra and Mahindra Ltd.
