Government, EV companies agree no additional subsidies needed: Piyush Goyal
What's the story
India's Commerce and Industry Minister, Piyush Goyal, has said that the government and electric vehicle (EV) manufacturers are on the same page about not requiring more subsidies. The consensus was reached during a meeting in New Delhi with industry representatives of the EV sector. The meeting was held to discuss the development of battery charging and swapping infrastructure, with key stakeholders from various ministries and top companies in attendance.
Advantages
EV industry benefits from reduced costs and infrastructure
Goyal emphasized that EV makers are already benefiting from lowered battery costs, lower overall ownership costs, and a growing charging infrastructure. Officials from the Ministries of Power, Heavy Industries, NITI Aayog, Bureau of Indian Standards (BIS), and the Department for Promotion of Industry and Internal Trade (DPIIT) attended the meeting. Senior representatives of leading firms such as Amara Raja Advanced Cell Technologies, SUN Mobility, and TVS Motor Company were also present.
Growth forecast
Battery-swapping sector projected to reach $20B by 2030
The industry stakeholders at the meeting estimated that the battery-swapping space could be worth $20 billion by 2030. Goyal has sought feedback on battery swapping from auto and battery industry players by January 6. He stressed that it's up to individual companies to determine their business models, noting their varying levels of innovation and R&D.
Regulatory approach
Government encourages self-regulation for EV charging stations
The Petroleum and Explosives Safety Organization (PESO) has also issued guidelines for establishing charging stations at petrol pumps. Goyal said the government prefers a self-regulatory approach to these guidelines, urging Resident Welfare Associations (RWAs), office complexes, and commercial establishments to set up their own charging infrastructure. He also envisioned battery swapping and charging facilities at every petrol pump and CNG station across the country.
Standardization efforts
BIS releases draft standards for 2-wheelers
The BIS has issued draft standards for two-wheelers, and industry feedback is due by January 6. This comes after the standards for three-wheelers and four-wheelers have already been notified. These standardization efforts are part of India's larger strategy to back the EV industry and encourage sustainable transportation solutions across the country.