2024 Auto Industry’s Budget Optimism, Quote from HOP Electric Mobility
By MotoArc
January 17, 2024
Mr. Nikhil Bhatia, Co-Founder & Chief Strategy Officer – HOP Electric Mobility:
“As anticipation builds for the upcoming finance budget, the electric vehicle (EV) industry is poised for transformative reforms. Advocating for a streamlined Production-Linked Incentive (PLI) scheme, stakeholders seek clarity in provisions to encourage investment and growth. The call extends to widening the scope of the FAME II scheme, fostering innovation in diverse EV segments.
A crucial focus lies on incentivizing in-bound technology transfer and manufacturing capabilities, positioning India as a global EV technology hub. Anticipating the central role of lithium-ion batteries, we urge GST reform for increased cost-competitiveness. Charging infrastructure development, especially through public-private partnerships, is deemed pivotal for accelerated EV adoption.
Moreover, the promotion of universal battery charging and swapping infrastructure aims to simplify the user experience and standardize EV charging. The forthcoming budget is anticipated to lay the foundation for a sustainable, technology-driven future in Indian mobility, aligning with global EV trends.“
