Not right to find fault with govt for lack of EV policy: Mahindra

Mahindra group Chairman Anand Mahindra today said it would not be right to find fault with the government for lack of a "ready made" policy for electric vehicles (EVs) as it is still a new sector in the country and things would evolve gradually.

Mahindra, who was here to inaugurate Mahindra-Teri centre of excellence, said that the government recognises the importance of EVs and it takes time for things to evolve.

"It (EV) is such a new area, a new field, that it is very difficult to fault anyone for not having a ready made ideal policy in place. These things evolve," Mahindra told PTI.

There is huge momentum in the government regarding the EV space and everyone is pushing forward in that direction, he added.

Mahindra said templates like policy and other relevant regulations would be created and "will come in good time".

"I think they (govt) are working with private sector to create these so, I am not unhappy at this point," he said.

When Mahindra group entered the EV space, it was subject to ridicule from various quarters but the business has paid off, he added.

"We were punished for being pioneers in the EV space by being called foolhardy and that we were wasting our time in that space.....we believe that pioneering in that field is paying off for us and that business is growing rapidly, so look for us staying at the forefront of that," Mahindra said.

Government think tank Niti Aayog had last year mooted having 100 per cent EV for public transport and 40 per cent of personal mobility by 2030.

However, in February this year the government ruled out forming an EV policy saying technology should not be trapped by rules and regulations.

Separately, Mahindra Lifespace Developers and The Energy and Resources Institute (TERI) today launched centre of excellence (CoE) to boost energy efficient real estate in the country.

The CoE would aim at developing a database for market ready scalable and energy efficient materials and technologies.

It will also work on preparing policy briefs for the central and state ministries to promote green development.

"The Mahindra-TERI CoE embodies our focus on sustainability beyond just business- towards creating a larger urban stakeholder ecosystem," Mahindra said.