It is a big development for the domestic Electric Vehicles (EV) market in the country. We can soon expect a good breakthrough on indigenous battery development. Zee Business’ Chetan Bhutani has a detailed report. Take a look!
Union Minister for Road Transport and Highways Nitin Gadkari has said that he has recently chaired meetings on reducing the cost of electric vehicles battery and there could soon be a decision on this that would further the prospects of electric vehicle battery development in India.
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The Minister said that India’s electric vehicle sector is rapidly growing and Rs 51,700 crore PLI (Performance Linked Incentive) scheme has been allocated for the auto sector. The country is thinking to give benefits to EV buyers, the Minister said.
Gadkari also holds charge of the Ministry of Micro, Small and Medium Enterprises.
Government is working actively on EV policy and is thinking of giving GST exemption on electric vehicles, Gadkari said.
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The Union Minister also said that the government was soon planning to give incentives to construction equipment manufacturers to move to electric and CNG.