Union minister Nitin Gadkari on Friday said the National Highways Authority of India (NHAI) is developing charging infrastructure for electric vehicles along the highways.
Addressing an event virtually, the road transport minister further said the automotive industry is going through a challenging phase due to the impact of the COVID-19 pandemic and he is happy that it is now in a recovery mode.
"NHAI is also developing electric vehicle charging infrastructure along the highways to promote the use of electric vehicles," he said.
Gadkari pointed out that India's auto sector contributes 7.1 percent to the overall nation's GDP and 49 percent of to the manufacturing GDP, with an annual turnover of Rs 7.5 lakh crore and export of Rs 3.5 lakh crore.
"I am happy to note that several global brands are entering India, as well as several local entrepreneurs are setting up large facilities to mass-produce electric vehicles," the minister said.
As per a report, Gadkari said electric two-wheeler sales in the country recently stood at 13,345 units for July 2021, witnessing a massive 229 percent month-over-month jump and a year-over year leap in registrations of 836 percent.
"This is extremely encouraging," he noted.
According to Gadkari, there is a massive response seen in the domestic market for electric scooters from new start-ups.
The minister emphasised that simultaneously research on developing long-life, low-cost, high-efficiency batteries and EV components is also the need of the hour.
"One of the solutions to reduce pollution from existing diesel buses is the use of retrofit technologies," he said.
Gadkari said the government is committed to shift public transport and logistics on 100 percent green and clean sources of energy.
He said the national hydrogen mission launched by the prime minister seeks to develop hydrogen technologies for the benefit of the mobility sector and make India the leader in production and usage of green-hydrogen.
Noting that 70 percent of green hydrogen production costs come from electricity costs, Gadkari said, "Hence, surplus electricity from renewable energy sources can completely change economics of production of green hydrogen production."
He said green hydrogen is termed as the fuel of the future and it is the only fuel which can help achieve the mission of zero carbon emissions.
The minister said the recently launched production-linked incentive scheme (PLI) aims to boost advanced automotive technology products in the Indian auto sector which help to lower fossil fuel emissions.
Gadkari said the government expects the scheme would lead to a fresh investment of more than Rs 42,500 crore and creation of additional 7.5 lakh jobs in the sector.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
