ACMA welcomes announcement of e-vehicle policy
ACMA, the apex body representing India’s auto component sector, congratulated the Government on the announcement of the e-vehicle policy.
Thanking the Hon’ble Prime Minister of India, Shradha Suri Marwah, President ACMA & CMD Subros Ltd, said, “The EV Policy marks another significant step towards accelerating the adoption of cutting-edge technology and fostering innovation in India’s automotive sector. The policy not only aims to attract global EV majors to invest in India but also emphasizes a significant Domestic Value Addition (DVA) criteria, ensuring the creation of a robust supply-side ecosystem. Aligned with the Government’s vision of reducing our carbon footprint, promoting sustainable manufacturing, and achieving net-zero emissions by 2070, this policy sets the stage for a vibrant future-mobility global manufacturing hub in India.”
Mr. Sunjay Kapur, Chairman, Sona Comstar & Deputy Chair, CII Northern Region
“The approval of the new E-Vehicle policy marks a pivotal moment in our nation’s mobility landscape. This progressive step not only solidifies India’s position as a manufacturing hub for EVs but also fosters a conducive environment for global players to invest in our burgeoning market.
With a minimum investment threshold and a clear roadmap for domestic value addition, this policy underscores the government’s commitment to nurturing a robust EV ecosystem. It heralds a new era of innovation and accessibility to cutting-edge technology and amplifies the ‘Make in India’ initiative. By incentivising local manufacturing and fostering healthy competition, this policy will not only accelerate the adoption of EVs but also bolster economic growth by way of reducing our reliance on imported crude oil and mitigating environmental impact, particularly in urban areas.
I congratulate the government and welcome this forward-thinking policy which propels India’s journey towards a greener and sustainable future.”
Mr. Raman Bhatia, Founder & Managing Director, Servotech Power Systems Ltd.
The new electric vehicle policy will make India a global powerhouse for EV manufacturing. It is a boon for India’s booming economy and acts as a major push forward in the nation’s aspirations for clean transportation. Keeping a strong focus on prioritizing domestic manufacturing and encouraging competition and growth, this policy will provide enough chances and harbour enough space to facilitate increasing the adoption of EVs across the nation and aligns with the “Make In India “ initiative promoting local production and job creation. This policy acts as a gateway for large-scale investments from global EV giants like Tesla, making India an EV manufacturing hub globally and providing the much-needed impetus for the local players to enhance their manufacturing capacities and adapt high-tech EV technologies. This healthy rivalry will drive innovation, reduce production costs, and ultimately benefit Indian consumers with a broader range of high-quality, affordable EVs.
