Electric Vehicle and Hybrid Vehicle (xEV) Industry
During April 2012 Indian Government has planned to unveil the roadmap for the development of the domestic electric and hybrid vehicles (xEV) in the country. A discussion between the various stakeholders including Government, industry and the academia is expected to take place during 23–24 February. The final contours of the policy will be formed after this set of discussions. Ministries such as Petroleum, Finance, Road Transport and Power are involved in developing a broad framework for the sector. Along with these ministries big auto industry names such as Mr Anand Mahindra (Vice Chairman and Managing Director, Mahindra & Mahindra) and Mr Vikram Kirloskar (Vice-Chairman, Toyota Kirloskar) are also involved in this task. Government has also proposed to set up a Rs 740 crore R&D fund for the sector in the 12th five year plan during 2012-17. The idea is to reduce the high cost of key imported components such as the battery and electric motor and develop such capabilities locally.
Read more about this topic: Automotive Industry In India
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