EV players to meet Goyal on Friday, discuss infra-related issues

Stakeholders from the electric vehicle (EV) sector will hold a meeting with Commerce and Industry Minister Piyush Goyal on January 3 to discuss issues, including infrastructure related to charging and battery swapping, sources said.

Officials from the Department of Heavy Industries are expected to attend the meeting. Representatives from Tata, Mahindra, Mercedes-Benz India, Hero MotoCorp, and other companies have been invited to the deliberations.

Earlier in March last year, the government rolled out an electric-vehicle policy, under which duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of USD 500 million. The companies setting up manufacturing facilities for EVs are allowed to import a limited number of cars at lower customs duty. The policy seeks to promote India as a manufacturing destination for EVs and attract investment from reputed global EV manufacturers. However, no company has availed the benefit of the policy so far.

The fast-growing EV market in India is catching the eyes of global players. India’s electric vehicles market is expected to grow to one crore units in annual sales by 2030 and create five crore direct and indirect jobs, according to the Economic Survey 2022-23. As per industry estimates, the total EV sales in India stood at around 10 lakh units in 2022. In India, Tata Motors is the leading player in passenger electric vehicles. The company’s current EV portfolio comprises the Nexon EV range, Tiago EV, and Tigor EV.