Economic Survey 2018-19: Vision for electric mobility encouraging for EV makers, says industry body

The vision for electric mobility highlighted in Economic Survey is encouraging for electric vehicle (EV) makers and will clear doubts amongst fence sitters and motivate them to come up with new energy products, according to industry players

Press Trust of India July 04, 2019 19:28:55 IST
Economic Survey 2018-19: Vision for electric mobility encouraging for EV makers, says industry body
  • The Society of Manufacturers of Electric Vehicles (SMEV) said EVs finding a space in the Economic Survey for 2018-19 shows how crucial this industry is for India's economic and environmental condition

  • Government's thrust towards creating charging infrastructure would certainly clear doubts amongst fence sitters and motivate them to come up with new energy products, SMEV Director General Sohinder Gill said

  • Expressing similar views, Lohia Auto Industries CEO Ayush Lohia said, this vision of government towards the electric vehicle is highly encouraging for the industry

New Delhi: The vision for electric mobility highlighted in Economic Survey is encouraging for electric vehicle (EV) makers and will clear doubts amongst fence sitters and motivate them to come up with new energy products, according to industry players.

The Society of Manufacturers of Electric Vehicles (SMEV) said EVs finding a space in the Economic Survey for 2018-19 shows how crucial this industry is for India's economic and environmental condition.

Economic Survey 201819 Vision for electric mobility encouraging for EV makers says industry body

Representational image. Reuters.

"Government's thrust towards creating charging infrastructure would certainly clear doubts amongst fence sitters and motivate them to come up with new energy products," SMEV Director General Sohinder Gill said in a statement.

Expressing similar views, Lohia Auto Industries CEO Ayush Lohia said, "This vision of government towards the electric vehicle is highly encouraging for the industry."

"Increasing investments by EV manufacturers to develop more advanced, efficient and affordable electric two-wheeler and three-wheeler vehicles is likely to fuel growth in the coming years," he added.

The incentive schemes of the government to support manufacturing as well as the use of electric two-wheelers and three-wheelers have helped growth in the segment, Lohia said.

"Consistently increasing affordability of electric two-wheeler and three-wheeler vehicles is also boosting their adoption across the country," he said.

However, offering a different perspective, Indian Auto LPG Coalition Director General Suyash Gupta said: "We believe that any realistic target of increasing EV penetration to a sizeable amount in India doesn't happen before 2030 or even much later. This is why we have been exhorting the government to not to overlook the more readily available clean fuels that can be rolled out immediately and help India reduce its carbon emissions before EVs - if indeed- do become a reality."

"Auto LPG is one such fuel that doesn't need any infrastructural creation to increase penetration," he added.

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