Focus On Making Affordable EVs: Karnataka CM To Manufacturers

Karnataka Chief Minister Basavaraj Bommai on Friday (July 1) asked original equipment manufacturers (OEMs) to focus on making affordable electric vehicles (EVs).

Speaking at the inauguration of the ‘EV Campaign 2022’ and 152 EV charging stations, Bommai said, “The cost of electric vehicles should be affordable for the common man. Then only its usage could see an increase. The manufacturers should focus more on this aspect.”

“The battery and motor are the main parts of an electric vehicle. It is a matter of pride that they are being produced within the country under the ‘Atma Nirbhar Mission’,” he added.

Bommai also said that the Karnataka government with its new EV policy has made Bangalore Electricity Supply Company Limited (BESCOM) the nodal agency for establishing charging stations in public places.

In the coming days, the government will also focus on battery swapping, another important aspect of EVs, the chief minister said.

Pointing to the harmful effects of fossil fuels on the environment, Bommai highlighted the importance of adoption of renewable energy sources. 

“Electric vehicles play an important role in this regard. Right now electric two-wheelers are hitting the roads in large numbers and soon electric cars, buses and even multi-axle trucks would come to the market,” he said. “More research is needed in alternative energy sources to replace fossil fuels soon.”

The state government is also planning to introduce more EV buses through the Bangalore Metropolitan Transport Corporation (BMTC). 

Talking about the state’s adoption of renewable energy sources, Bommai said that Karnataka is the largest producer of solar power in the country.

The Karnataka government had introduced its EV policy in 2017. Besides, BESCOM has also developed an app called EV Mithra, available on both iOS and Android, that helps EV users to track EV charging stations, check slot availability, and pre-book them, among others. 

With its capital Bengaluru being the startup hub of India, Karnataka has a large number of startups, and the state is also home to some of the top EV companies. It has also received investments from a large number of EV companies.

Last month, Toyota Kirloskar Motor and Toyota Kirloskar Auto Parts, subsidiaries of Toyota Group of Companies, signed an MoU with the state government for investment of INR 4,100 Cr in the state.

As per Mordon Intelligence report, the Indian EV market is expected to reach $15.4 Tn in value by 2027, registering a compound annual growth rate (CAGR) of 47.09% during 2022-2027. In 2021, it was valued at $1.4 Tn.