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Economic Survey: Local tech, components for EV manufacturing

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India seeks to curb reliance on China's EV supply chain by prioritizing local manufacturing and battery technology. Public transport emerges as a key pillar of the country's clean mobility strategy.
The article from Livemint discusses the Indian government's push towards electric vehicle (EV) adoption as highlighted in the Economic Survey 2022-23. It emphasizes the 'Make in India' initiative's role in promoting local manufacturing of EVs to reduce dependency on imports, particularly from China, which currently dominates the global EV supply chain. The survey points out the need for India to develop its own battery technology and manufacturing capabilities to ensure self-reliance in the EV sector. It also notes the challenges such as the high cost of EVs, lack of charging infrastructure, and the need for a robust supply chain for raw materials like lithium and cobalt. The government aims to create a conducive environment for EV growth through policy support, incentives for manufacturers, and fostering innovation in battery technology to make EVs more affordable and accessible, thereby reducing pollution and oil import bills.

Read the Full Mint Article at:
[ https://www.livemint.com/economy/economic-survey-make-in-india-evs-electric-vehicles-ev-adoption-local-manufacturing-ev-market-supply-chain-battery-tech-11738312550790.html ]