1. Nitin Gadkari: Electric vehicle policy by December

Nitin Gadkari: Electric vehicle policy by December

The policy will include both light and heavy weight electric vehicles like cars and buses.

By: | New Delhi | Published: May 16, 2017 9:36 AM
Union minister Nitin Gadkari. (PTI)

India is likely to come out with its first comprehensive electric vehicle policy by the end of the year, aimed at promoting the use of non-pollutant vehicles for public and goods’ transportation, and save billions on its crude imports bill, minister for road transport and highways Nitin Gadkari said here on Monday. “E-vehicle is the future. We will come out with a fair and transparent and comprehensive policy by December which will change the vehicle scenario of the country,” Gadkari said, adding that inter-ministerial consultations are current on regarding the policy. Gadkari said a group of ministers, constituted to prepare the draft plan for the electric vehicle policy, has already submitted its recommendations to the Cabinet secretary.

The minister will launch e-bus, auto and taxis for transportation on a pilot basis in Nagpur on May 26. Hero Electric is the largest manufacturer of electric two-wheelers in the country, commanding over 75% share in the emerging market. The policy will include both light and heavyweight electric vehicles like cars and buses. Many Indian companies, including JSW Group, has already evinced interests to manufacture electric vehicles.

Also Watch:

According to a recent report jointly published by NITI Aayog in association with Rocky Mountain Institute, India can reduce its annual diesel and petrol consumption by 156 million tonne by 2030, saving a total of $60 billion per year by adopting a shared, electric and connected mobility future, which can also save around one gigatonne of carbon emissions between 2017 and 2030. Aimed at encouraging the domestic manufacturing of electric cars, the government also wants promotion of research and development in the electric mobility sector. It is also ready to hand-hold the sunrise industry in the initial years.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Go to Top