India the world’s largest two-wheeler market is seeing the highest adoption of electric vehicles, but naturally in the two-wheeler segment. While the Interim Budget 2024 presented by Finance Minister Nirmala Sitharaman didn’t mention specific to the e-two-wheeler space, there is expectation of FAME 3 to further drive growth.
Hari Kiran, Co-Founder and COO, eBikeGo:
“We as an OEM are thrilled with the Interim Budget announced as the government’s commitment to expand and strengthen the EV ecosystem will significantly boost manufacturing and infrastructure development. This will emerge as a notable contribution in achieving Net Zero Goals and lays a solid foundation for sustainable mobility and a greener environment. Also, as highlighted by the Finance Minister, the new age technologies and data are changing the lives of people and businesses. They are also enabling new economic opportunities as India is showing solutions through innovation and entrepreneurship.”
Hyder Khan, CEO of Godawari Electric Motors: Our government is committed to advancing sustainable development by enhancing and strengthening the electric vehicle (EV) ecosystem. Through robust backing of manufacturing and charging infrastructure, they have reinforced the groundwork for a more environmentally friendly future. The focus on creating accessible and eco-conscious mobility solutions underscores the significance of this announcement in the budget. These efforts will enhance EV adoption, paving the way for a cleaner, more interconnected future. The details of this announcement in the forthcoming budget will play a crucial role in steering the country’s net-zero agenda in a positive direction.
Namit Jain, Founder & CEO, Zen Mobility: “We emphasise that the pressing need of the hour is for governments to champion a sustainable future by extending vital support to the electric vehicle industry. Providing subsidies and monetary support to OEM’s is paramount, fostering an environment that propels EV sales and facilitates seamless adoption in the mass market. We applaud government initiatives to expand and fortify the e-vehicle ecosystem, including support for manufacturing and charging infrastructure. This signifies a collective stride toward a cleaner, greener transportation landscape.”
Pritesh Mahajan, Co-Founder & CEO, Revamp Moto: “The electric vehicle industry has exciting potential for the Interim Budget of 2024. A big step towards a sustainable future has been taken by the government’s commitment to developing the EV ecosystem, assisting with production, and funding charging infrastructure. In addition to being in line with our environmental objectives, the focus on promoting e-buses for public transport and the implementation of a bio-manufacturing programme open doors for creative, sustainable alternatives. Furthermore, a comprehensive strategy is shown by the actions taken to harness offshore wind energy and encourage the gradual integration of biogas into natural gas. This budget not only jumpstarts our path to “net-zero,” but it also ushers in a new era of environmentally friendly growth and conscientious manufacture for Revamp Moto and the entire EV industry.”
Sulajja Firodia Motwani, Founder and CEO, Kinetic Green: “The announcements on the interim budget for Viksit Bharat illustrate the government’s steadfast commitment to creating a developed India by 2047. The significant progress gained in all aspects of infrastructure physical, digital, and social over the last decade demonstrates our multifaceted economic management, which effortlessly aligns focus on infrastructure building with aggressive capital expenditure; with inclusive and people-centric development. The allocation of 2.78 lakh crores to the Ministry of Road Transport and Highways is a clear indication of strides toward progress, particularly in fortifying the electric vehicle (EV) ecosystem. The government’s commitment to the expansion and fortification of the e-vehicle ecosystem, promote deployment of EVs for the masses, coupled with support for manufacturing and charging infrastructure, marks a pivotal moment. The government remains resolute in its commitment to expanding and sustaining this ecosystem, fostering entrepreneurial opportunities for vendors engaged in the supply and installation of charging infrastructure. Simultaneously, it aims to create employment opportunities for the youth equipped with technical skills in the manufacturing, installation, and maintenance of these vehicles.”
“The EV sector was expecting an announcement in the interim budget regarding the continuation of the Fame scheme for demand generation. We are hopeful to have this coming in the weeks ahead.”
Yatin Gupte, CMD, Wardwizard Innovations and Mobility: “We congratulate the government for offering a visionary direction to the mobility industry by elevating the e-vehicle ecosystem. The emphasis on bolstering manufacturing, advancing charging infrastructure, and implementing secure payment mechanisms will help the industry in fostering sustainable mobility. These initiatives present a forward-thinking approach which connects to our collective aspiration of building an environmentally consciousness mobility ecosystem.”
