Auto industry submits white paper on EVs to Power Min, commits to all-electric market by 2047

The auto industry aims to make internal combustion engines a thing of the past by the year 2047.

In a white paper submitted to the Power Ministry Monday, the auto industry is said to have committed to make India an all-electric automobiles market by 2047.

The power ministry had earlier proposed electrification of cars by 2030. The auto industry instead reportedly committed to conversion of 40 percent petrol and diesel cars, and the whole of India’s public transport to electric by the year 2030.

It also presented a proposal seeking incentives, tax breaks for this mass conversion for buyers, income tax deduction on the loans for electric cars on the same line as home loans, correction of inverted GST duty structure on electric cars, and concessional electricity rates for charging batteries.