TL;DR
Heavy Industries Secretary warned the Indian auto industry to prepare for the end of EV subsidies, urging more R&D and collaborative efforts for charging infrastructure.
Kamran Rizvi, Secretary in the Heavy Industries Ministry, addressed the annual SIAM convention on Thursday, issuing a clear message to the Indian automobile industry: prepare for the eventual cessation of government subsidies for electric vehicles. He emphasized that companies must be ready for this transition in the coming years and urged increased investment in research and development.
Rizvi also stressed the crucial need for collaboration among auto and component manufacturers to establish a comprehensive and widespread EV charging infrastructure across the nation. While India has seen significant strides in electric mobility, particularly with electric three-wheelers dominating their segment, the industry must proactively work towards self-reliance and sustainable growth as direct financial incentives phase out.
