Business News | It's Time for India to Move Towards Electric Vehicles: Tarun Kapoor, PM Modi's Advisor
Get latest articles and stories on Business at LatestLY. Kapoor further stated that in the case of two-wheelers, India should aim to transition close to 100 per cent in the next 5-7 years and added there is no reason why it cannot be achieved.
New Delhi [India], June 6 (ANI): Tarun Kapoor, Advisor to the Prime Minister at the Prime Minister's Office has said it is time for India to move towards electric vehicles (EVs) mainly keeping in mind the energy security and environmental concerns.
"From the government side also, we now want to focus on driving this sector so that not only do we have more and more electric cars, buses and two-wheelers on the road, but we also become a manufacturing hub for the world," he was quoted as saying in a FICCI statement.
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Addressing the 'FICCI Roundtable on Electric Mobility', Kapoor highlighted the potential of the Indian electric market and said that the auto sector in India is already well established. All leading players are already in the market.
"It is just about transitioning which should be easy and all stakeholders need to work together to strengthen the EV sector," he stated.
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Kapoor further stated that in the case of two-wheelers, India should aim to transition close to 100 per cent in the next 5-7 years and added there is no reason why it cannot be achieved.
"The price has come down slightly as India is a very price-sensitive market, so the price has to come down further. The support from the government including subsidies, taxes and policy reforms will not take us beyond a point but it is the industry who must take it forward," he said.
He also urged the industry for more investments in battery manufacturing along with the entire value chain of battery manufacturing. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)