Automotive industry body Siam on Wednesday welcomed the government’s decision to approve two schemes with a total outlay of Rs 14,335 crore to promote electric vehicles, saying the forward-thinking initiative will make clean and green transportation more accessible to all.
The Union Cabinet on Wednesday approved two schemes — the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme with an outlay of Rs 10,900 crore over a period of two years, and the PM-eBus Sewa-Payment Security Mechanism (PSM) scheme with a budget of Rs 3,435 crore.
Reacting to the announcement, Society of Indian Automobile Manufacturers (SIAM) President Shailesh Chandra called the move “a progressive step that underlines the firm commitment to promote sustainable mobility.”
He added that “this will undoubtedly help accelerate the adoption of electric vehicles across the country, making clean and green transportation more accessible to everyone.”
This forward-thinking initiative reflects the government’s unwavering support for India’s transition to electric mobility by encouraging innovation and investment within the sector, Chandra added.
“We believe this plan will not only enhance the growth of the electric vehicle ecosystem but also strengthen India’s leadership in the global movement towards environmental sustainability,” he said.
The automotive industry stands ready to continue working in collaboration with the government to ensure advancements in EV technology and infrastructure, aligning our efforts with the nation’s ambitious goals for a cleaner, greener future, Chandra said.
Nishant Arya, Vice Chairman and Managing Director, JBM Auto Ltd, said the policy will reinforce India’s leadership in driving the global shift towards clean and sustainable mobility.
“This is a momentous announcement to make India the world’s EV capital and for the automotive sector to play a pivotal role in achieving India’s net zero emissions goals by 2070,” he said.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: September 11, 2024 | 11:15 PM IS
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