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Government's New Policy to Cheer Eco-Friendly Transport Options, Electric Vehicle Models

CIO Insider Team | Monday, 25 March, 2024

Government’s new policy is expected to encourage environmentally friendly transportation options, with the Indian auto industry gearing up to introduce a fresh set of electric vehicle types in the coming years.

Maruti Suzuki, Hyundai, Mahindra & Mahindra, and Tata Motors are working on new models to feed the requirement of all sectors.

Nalinikanth Gollagunta, CEO of Mahindra & Mahindra's Automotive Sector, revealed that the company is invested in introducing five new battery-electric vehicles by the starting of 2025.

Maruti Suzuki India’s executive officer (corporate affairs) Rahul Bharti spoke about the carmaker's plans are associated largely with electric vehicles. Additionally, he said that the country will need a lot more technologies such as hybrid-electric, CNG, bio-CNG, ethanol flex fuel, etc., to reduce carbon emissions and oil imports.

Back in 2019, Hyundai Motor India’s COO Tarun Garg, was one of the first to bring the completely electric KONA SUV in India. Last year, it introduced the IONIQ 5, a high-end electric SUV.

By 2030, Audi India anticipates that electric vehicles will account for 50 percent of its sales in India.

As per the talks within the industry, it is said that EVs are anticipated to account for about 20 percent of India's car market by 2030, according to Garg.

Over a ten-year period, the company intends to invest about Rs 26,000 crore in Tamil Nadu. A battery assembly plant will also be established in the state as part of this project.

This year, the business intends to launch four more EV models, including the Curvv EV and Harrier EV.

Also preparing to expand their EV lineup in the nation are luxury automakers.

By 2030, Audi India anticipates that electric vehicles will account for 50 percent of its sales in India.

The carmaker intends to increase the product lineup in order to meet its aggressive sales goal, even though it now offers four electric vehicles in the nation.

According to Gollagunta of Mahindra & Mahindra, the strategy, which includes conditions for bank guarantees, a minimum investment commitment, and local value addition, strengthens the Made in India momentum.

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