Indian Minister of State for Heavy Industries has announced that the government is planning to install 6,000 charging stations for electric vehicles (EVs) across nine expressways in the country. As per the government’s statement, charging is the biggest problem when it comes to the use of EVs, referring to the hurdles in EV adoption, including the time it takes to charge automobiles.
In addition, the Automotive Research Association of India (ARAI) has been tasked with developing technology to shorten the time it takes to charge EVs. As per the statement, the car industry provides 14-15 per cent of GDP with the potential to rise to 25-30 per cent. Due to the government’s different plans and incentives, the sale of EVs has surged in recent months. Furthermore, the Advanced Chemical Cell (ACC), which is the key component of the EV battery, is currently imported, and the battery accounts for roughly 30 per cent of the EV’s cost. If it is manufactured locally, this can be minimised.
The government’s FAME I and II (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme, has been extended by another two years to March 31, 2024. The government is also providing financial assistance to auto component producers of up to 8 per cent and EV manufacturers of up to 13-18 per cent through the scheme. This would also help to create around 7.5 million additional advanced-level employment opportunities.
