Union minister Nitin Gadkari said India wants to become the number one automobile industry in the world in the next five years with the cooperation of EV manufacturers
Gadkari said there is a huge potential for exports of electric two-wheelers from India, highlighting that 50% of motorcycles produced in the country are already being exported
His remarks come a week after the union cabinet approved ‘PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme’ with an outlay of INR 10,900 Cr
Union minister of road transport and highways Nitin Gadkari has said that India wants to become the number one automobile industry in the world in the next five years with the cooperation of electric vehicle (EV) manufacturers.
Speaking at the launch of a new electric commuter motorbike by Revolt Motors in Delhi, Gadkari said there is a huge potential for exports of electric two-wheelers from India.
He highlighted that India already exports 50% of motorcycles produced in the country and legacy players such as Bajaj Auto, Hero MotoCorp and TVS have a large presence in international markets.
Emphasising that companies looking to manufacture and export EVs must focus on technology and cost efficiency for growth in business, Gadkari asked Revolt Motors to explore markets in neighbouring countries like Nepal, Bhutan, as well as Africa and Latin America.
Revolt Motors on Tuesday launched RV1, its first commuter e-motorcycle, at a starting price of INR 84,990. The e-bikes are available in two variants — the 2.2kWh model has a claimed range of 100 km and the 3.24kWh variant has a claimed range of 160 km.
Gadkari’s remarks come at a time when the government is ramping up efforts to expand and strengthen the electric vehicle ecosystem in the country. Last week, the union cabinet approved ‘PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme’ with an outlay of INR 10,900 Cr.
PM E-DRIVE will effectively replace the FAME scheme, under which the government previously extended demand incentives to EV manufacturers.
Under the new scheme, the Centre will give subsidies and demand incentives worth INR 3,679 Cr for electric two-wheelers (E2Ws), three-wheelers (E3Ws), ambulances, trucks and other emerging EVs.
Additionally, the government has earmarked INR 4,391 Cr for the purchase of 14,028 ebuses for public transport agencies. PM E-DRIVE will also boost India’s charging infrastructure by promoting installation of electric vehicle public charging stations (EVPCS).
As part of the Centre’s push to boost electric vehicle usage in India, the union cabinet has also approved the ‘PM-eBus Sewa-Payment Security Mechanism (PSM) scheme’ with an outlay of INR 3,435.33 Cr for procurement and operation of ebuses by public transport authorities (PTAs).
The scheme aims to support the deployment of over 38,000 ebuses during FY25-FY29 period.
