EV Players Meet Piyush Goyal To Discuss Development Of Battery Charging, Swapping Infra

In an effort to fasten EV adoption in the country, commerce and industry minister Piyush Goyal held discussions with stakeholders from the electric vehicle (EV) industry today (Januray 3).

As per PTI, various issues, including development of battery charging and swapping infrastructure were discussed. Automobile giants, including Tata, TVS and Mercedes-Benz attended the meeting.

The meeting also saw participation from the officials from Department of Heavy Industries, and Department for Promotion of Industry and Internal Trade (DPIIT).

This comes at a time when the Indian government is striving to make its space in the global EV market. It is not only taking measures to increase EV adoption by the consumers in India but also promoting manufacturing.

A few months back, the union cabinet approved ‘PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme’ with an outlay of INR 10,900 Cr for a period of two years. This initiative aims to replace Centre’s Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme, which aims to provide support through demand incentives for the deployment of EVs and development of charging infrastructure.

Under PM E-DRIVE, the government aims to provide subsidies and demand incentives worth INR 3,679 Cr for electric two-wheelers (E2Ws), three-wheelers (E3Ws), ambulances, trucks and other emerging EVs.

While the central government is doing its part to bolster EV growth in the country, several players in this segment are aggressively trying to build on their EV journey.

While the competition is intense, automotive giants Bajaj Auto and TVS Motor surpassed Bhavish Aggarwal-led Ola Electric to become India’s leading electric two-wheeler (E2W) manufacturers in December in terms of escooter sales and market share.

However, the last month of 2024 saw a major dip in the number of EV registrations. December 2024 saw an 8-month low with 73,363 units, which is 38.7% down from 1,19,671 units in November. 

Overall, electric two-wheeler registrations jumped 34% to 11.48 Lakh units in 2024 from 8.60 Lakh units in 2023.

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