The Indian government, through the Commerce and Industry Ministry, has officially approved the Electric Vehicle Policy, aiming to position the country as a leading manufacturing hub for electric vehicles (EVs). This policy, reported by agencies, mandates a minimum investment of Rs 4,150 crore, with no maximum cap on investment, and sets a three-year timeline for establishing manufacturing facilities within the nation. This move comes at a time when global sentiment towards EVs is mixed, with CNBC reporting a current dip in investor enthusiasm for electric and autonomous vehicles. However, predictions suggest that as EV prices become competitive with or fall below those of gasoline-powered cars, momentum will shift back towards electrification and autonomy. Meanwhile, regulators worldwide are attempting to accelerate the transition to electric commercial vehicles, though with limited success so far.
Government approves Electric Vehicle Policy to promote manufacturing in India: Commerce and Industry Ministry
Government of India approves E-Vehicle policy to promote the country as a manufacturing destination for electric vehicles Minimum investment Rs 4150 Crores is required with no cap on maximum investment. 3 years timeline for setting up manufacturing facilities in India, and start… https://t.co/7eNnHtClQ9
News Alert | Government on e-vehicle policy: New e-vehicle policy mandates minimum investment of Rs 4,150 crore (Agencies) See more details👇 #ElectricVehicles #EV https://t.co/oqavNVXzBp
News Alert | Government on e-vehicle policy: New e-vehicle policy mandates minimum investment of Rs 4,150 crore (Agencies) #ElectricVehicles #EV https://t.co/AX7v8RLUnj
Regulators are trying to speed the transition to electric commercial vehicles. But they are having little effect so far https://t.co/dciglvb412 👇
Globe editorial: EVs shift into a higher gear https://t.co/JXk8ACD819 https://t.co/EykGwUjzeF
CNBC summed up the investor mood in EV’s. https://t.co/A2bo3Bht4y This too will change. In a couple of years, when prices of EV‘s fall inline or below prices of gas cars, momentum will shift back in favor of electrification and autonomy. It’s just a better way to move.…