SME Times News Bureau | 02 Jul, 2020
As demand and investments in
the Electric Vehicles (EVs) sector are severely hit due to disruptions
caused by COVID-19, FICCI has suggested to the Government, a series of measures
to ensure continuity of the EV growth roadmap and achievement of the targets as
envisioned by the Government for the sector in the next decade.
These suggestions have been
submitted to NITI Aayog, Department of Heavy Industry, Ministry of Road
Transport and Highways and other relevant authorities in the Government.
adverse impact on the introduction of this green technology in the country's EV
sector due to factors such as reduction in demand for automobiles, higher risk
aversion among customers towards new technology, disruption in supply chain, and
uncertainty in oil prices due to COVID-19.
There is also likelihood of
reduction in demand for shared mobility leading to reduced demand for E3W and
postponement of investments in EV technology by local component makers.
Despite these short term
setbacks, FICCI strongly feels that India must continue to encourage EVs
along with all other Electrified Vehicle technologies (xEVs), such as Plug-in
Hybrid Electric Vehicles (PHEVs), Strong Hybrid Electric Vehicles (SHEVs) &
Fuel Cell Electric Vehicles (FCEVs) and electrification of the transport sector
due to the long-term vision of our nation towards electric mobility to lessen
air pollution, achieve fuel security and technology leadership in this sector.
FICCI EV Committee has
submitted its recommendation to the government to seek immediate support from
policy makers to enhance attractiveness for EVs in short term and to encourage
continued investments in the sector.
FICCI has requested the
government to take certain steps urgently to prevent a derailment of the sector
and to help create demand; so that India can attain leadership in EV technology