Comprehensive action plan needed for electric vehicle segment to grow: Survey

A comprehensive action plan is required for the electric vehicle (EV) segment to grow in India, according to a study.

"Conducive policy environment for market creation, technology development and setting up of a vibrant manufacturing ecosystem for electric vehicles can drive electric mobility in India," an Assocham statement said on Wednesday quoting the study.

"A long-term and sustainable policy framework is necessary for the creation of a vibrant EV ecosystem in India," it said.

The joint-study by Assocham and Nomura Research Institute stressed upon the need for a comprehensive action plan to work on three aspects -- consumer acceptance, cost reduction and charging infrastructure for electric vehicles.

The report recommended government support, the supply of raw materials independent of China, indigenised manufacturing of components for the vehicles among others for the sector to grow.

A pan-India charging infrastructure, consisting of home and public charging stations, will provide the necessary push to stimulate demand for electronic vehicles, it said.

--IANS

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