Transition of automobiles towards electric mobility inevitable: Niti Aayog CEO

The transition of automobiles towards electric mobility is inevitable and it is for the auto industry to make the change and drive it to make India a global leader in electric vehicles (EVs), Niti Aay

The transition of automobiles towards electric mobility is inevitable and it is for the auto industry to make the change and drive it to make India a global leader in electric vehicles (EVs), Niti Aayog CEO Amitabh Kant said on August 25. Speaking at the annual convention of auto industry body, Society of Indian Automobile Manufacturers (SIAM), Mr. Kant said that in the next two years the cost of batteries will fall even further thereby bringing down the upfront cost of acquisition for consumers. "At Niti Aayog, we are taking all measures to boost innovation, efficiency and investments in the automobile sector, especially to bring down the initial upfront cost of EVs to the consumers. I am stressing on EVs because I'm a strong believer and a firm believer that this transition is inevitable," he asserted. He further said, “we are a centre for compact car manufacturing. If we do not innovate, and if we do not make a radical transformation, we will lose this opportunity to become a leader in electric vehicle manufacturing.” “Global battery costs have been declining, much faster than anticipated and therefore, EV economics have become favorable as battery costs decline”, he added.