India should target 100% electrification of two and three-wheelers by 2030: Mr. Amitabh Kant
- IBEF
- July 20, 2023
Mr. Amitabh Kant, the G20 Sherpa for India, while addressing a side event organised by the NITI Aayog on 'Policy support and Enablers to Accelerate India's Electric Mobility during the ongoing fourth Energy Transitions Working Group meeting under India's G20 Presidency in Panaji, stated that the nation should aim for 100% electrification of two and three-wheelers by 2030. He added that India should target that 65% of its state public transport should be electric by 2030.
In order to fulfil its goals for electric mobility, India requires a clear policy framework, according to Mr. Amitabh Kant.
He added that diesel and petrol are dying technologies and the age of electric vehicles (EVs) is inevitable.
As financial lenders struggle with the low resale value of electric vehicles, he also advised developing low-cost financing for them. In addition, he suggested that the NITI Aayog should sit with the financial institutions and figure out a way to create a secondary market for these vehicles.
Building a strong pricing infrastructure throughout cities and villages using a public-private partnership (PPP) framework is another challenge, according to Mr. Amitabh Kant.
Furthermore, he said that the automobile industry is crucial to India because it accounts for 49% of the manufacturing sector and 8-9% of employment.
"If India is not going to make that leap forward in electric vehicles, it will lose out on the market to become the world's automobile global champion," he stated.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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