The Union Minister, Jayant Sinha has been quoted as saying that the government is almost ready with policies to promote electric two-wheelers in India. The government will call upon big industries to invest in this sector.
Sinha said that the government is facilitating equity capital for investors under various mechanism including India Aspiration Fund, while calling upon the big industries to invest in the electric two-wheelers sector. "Electric vehicles are very strategic for us as an economy. We are working at policy level to make this electric two-wheelers work. Policies are already in place both in transport and power ministries. What is required is innovative models and financing..." said Sinha at the 15th Darbari Seth Memorial Lecture.
While stating that electric two-wheelers are going to be a game changer , Sinha said, "It is a massively important sector. India today is the world's largest market for two-wheelers. But they are petrol driven. We need to really make a transition to electric two wheelers." He also spoke about the challenges electric two-wheelers face, like how and where these vehicles can be charged and that there is a lot of research yet to be done.
He added that the government is creating institutions like India Aspiration Fund to provide sources for equity funding because as of now 90 per cent comes offshore.
If electric two-wheelers tickle your fancy, read more about the upcoming Tork T6X electric motorcycle. This electric motorcycle is set to take on the 125cc-150cc segment in India.
Source - ETAuto
